Should I sell or wait it out?!

[Jay R.]

Hi All,

Thanks in advance for the replies. I'll try to keep my explanation of issue short and to the point. 

Due to me moving to another state for work I recently put my SFH on the market as a rental and currently have a tenant until next year this time. Long story short I am making just enough to break even after mortgage payments and cap ex.

My lease is somewhat below market value and I believe that once the lease is over I can potentially profit $400 per month on this property. This is with the mortgage and cap ex expenses being paid. Also, the appreciation on my house has been around 20% over the past two years. Obviously I'm not sure with the markets how that will hold up over the next few years. 

My issue is currently if things happen in the house i essentially am in a loss for the year although i can float the cost.

Potential Solution:

During this time I've actually been able to connect with an investor who will actually give me current value on my home which is essentially the appreciated value of 380k. This would net me around 60k which is what I've put into the house, essentially cashing out. 

My question is. Would it be better to hold onto the property and essentially eat the cost if/when maintenance items arrive. This would land me with $400 profit per month as well as appreciation gains. OR cash out the property and look for better opportunities? 

Another thing to note, my interest rate is very low so a cash out refinance is not an option. 

One main concern I have currently have are the high interest rates and finding a better deal. 

Thank you again for taking the time to read my post. I look forward to your responses.