When to rent and when to sell

[Brad Franks]

I have a house and duplex I built together. The duplex is renting out beautifully, but the house is not. The rent amount seems to be out of the price range for most renters. The market is hot right now! I could probably sell within a few days! Sale price would probably equal about 12 years worth of rent. The house is brand new construction now, and it'll only bring new construction price once. I do want to build up a larger rental portfolio, but I'm thinking this one may be best to sell and use the profits to invest in another area. Does anyone have a formula for when to sell for versus when to rent? I would really appreciate some advice. Thanks!