To Sell or not to Sell

[Kent Smith]

Hi everyone!
We bought a house in DFW (Casa View area) 2 years ago thinking we would be moving in. Life circumstances changed and we ended up living out of state and renting it out. We have had basically zero to negative cashflow the whole time.

Purchased house for $260k at 3.8% 30-yr fixed
Current mortgage payment is around $1850. Rent payment is $1900.
House probably would sell for $285k.

We will not be moving into that property. It is the only house we own, and it is obviously a pain to manage.

If we sell it now we will be at a net negative on the whole thing, but won't have to mess with it anymore.

Are there any compelling reasons to hold onto this or can we just lick our wounds and free ourselves of the burden?
Emotionally, it sucks to take a hit and not own anything, but I don't want to fall into the sunk cost fallacy, and it would be nice to be out of the landlord game on a house that doesn't cash-flow positive.
All opinions greatly appreciated! Thanks in advance for your help.

[Joe Villeneuve]

Quote from @Preston Dean:

@Kent Smith

I believe a lot of investors will say "it depends on your strategy" and that is true! 

However,

I would say hold on to the property especially if you are going to be in the negatives if you sell it. 

Buy real estate and wait, don't wait to buy real estate

...or, don't buy RE at a loss just to buy RE.  That makes no sense.  Worse, it makes no dollars...except maybe for the REA.