Sell or Rent? VA Loan Primary Residence Turned Into Rental

[Robert Bolton]

I'm not sure if I should sell, refinance or continue to rent. I am active duty military and initially purchased my home for approximately $250,000 with nothing down at 3.75% interest. I lived in the home for about 4 years and have since moved. The home has appreciated about $80,000 but I decided to transition it to a rental property instead of selling. The current mortgage is $1486 and it is being rented for $1600 with property management fee of 10% ($160). This leaves me with a negative cash flow of $46 per month not including all of the other expected expenses. However, the amortization is about $420 per month toward the principal with about $20,000 paid down total and since I did not put a down payment at all my ROI not really calcuable. The area is a very nice long-term area as well. Should I continue to rent, refinance, or sell the property.