When to sell an investment home

[Amir B.]

Hello BPers,

I'd like feedback on when an investor should decide to sell their investment.

I bought an SFH in Parma, OH, in June of 2017. I bought it for $86,500, including closing costs. I immediately found a renter for $1097, and she stayed until this past September. After about a year, I paid it off. After she left, I spent about $7,000 on repairs, paint, etc. After two months, I still haven't found a tenant (I did briefly, but the tenant backed out) and found out today that the basement needs waterproofing, which can cost between $4500-$5200. The house was built in 1955, and thinking if I should sell it.

My goal was to gross $5,000 per month between my three properties. I have a duplex in Euclid renting out for $2600 monthly. 

Many thanks for considering my request.

Amir

@James Wise