Should I sell my rental?

[James Haggard]

My wife and I own 50% of a rental property with another couple. The other couple also has 50%.

They're separated and are getting a divorce, so we're going to dissolve our partnership. 

My wife and I are trying to determine if we should sell the rental property and use that cash for our next investment. 

Or should we buy our partners out of the rental? Do a home equity line of credit, and use that money for our next investment. 

We've had the rental for almost 7 years. The rental is out of state. 

What factors should I be looking at to make the best decision? What variables should I consider? What numbers do I need to look at?

Thanks!

[Theresa Harris]

If you sold it, what would you do with that money and how much income would that generate compared to keeping the house with the added costs of buying out your partners?  Are there any major repairs that are coming up in the next few years (eg new roof)?