Sell or Rent Out My Inherited Property

[Megan Bowen]

Hello all! 

Newbie here and I am in need of some advice and guidance. My current residence (3bds 3ba) was an inheritance from my father.  The property is paid off and probate is finally over. Originally I had wanted to use it as a LTR but am now considering selling it as that would fund more real estate investment opportunities ( according to my realtor friend it should sell for approximately $237,000). It needs some updates and minor repairs and I have $30,000 personally I am willing to put into if it makes sense financially to do so. Math and numbers are not my strong suit, so can someone help me figure out which option of the two makes more sense?