Rehab almost done, to sell or keep for rental?
We are finishing our second rehab. We had a successful first BRRR. We currently have the house we are going to buy under contract for $120,000. We have put about $40,000 in repairs, new floors, new windows, siding, drywall, paint, bathroom etc. House is close to being a new house. Probably can sell it for $250,000. Rent in the area would probably bring $1,500/month. If we sell we would split the profits 50/50, if we rent it out, we would buy out our partner. Looks like about a 75% return on our money if we sell (after taxes). Monthly cash flow would be around $600/month. 11%CoC return.
When do you keep for residual income, when would you sell?