Im receiveing a lot of offers on my property, not sure next step, need advise

[Reynaldo Aranda]

I have a 6 unit apartment building 2 miles from downtown San Antonio.  Within the last year I have received multiple offers from investors. I have 5 years to pay mortgage off. I owe 49k, and receive $2500 in rents when full.  Building was built in 1900 (4600 sqft) so it does need some repairs but overall very well built. A full rehab would cost approx. 75-100k. Offers are between 145k-165k and county appraisal is at 170k. Comps were 150k last year but there has been a bungalow (1300 sqft) rehabbed on my street selling for 225k.  Once I pay off it would take me approx 10 years from today to make est 116k profit at the highest offer right now.  Any advise??

[Tim Macy]

You could cash out re-fi and do some of the reno that needs to be done.  If it's in a good area, which it sounds like it is, you should be able to raise those rents, that's probably why you have so much investor interest. 

To me, this sounds like the deal that you would look back on and wish you had kept, I would put as much as you can back into the thing.  I don't think rents near downtown SA are going down anytime soon, only up, although I don't know the exact area you're in.