Keep inherited property or sell?

[Maribel Canino]

Any tools or formulas that should be used when deciding this?

My sister and I have inherited my mother’s house, no mortgage.

Options are:

1-Rent it

2-Buy out my half and rent it (would need a home equity loan-?)

3-Sell it!

Thanks!

[Malcomb Stapel]

Quote from @Maribel Canino:

Any tools or formulas that should be used when deciding this?

My sister and I have inherited my mother’s house, no mortgage.

Options are:

1-Rent it

2-Buy out my half and rent it (would need a home equity loan-?)

3-Sell it!

Thanks!

 They have a whole rental calculator tool up in the toolbar. However, I don't know if they will let you use it if your not a pro member. If there is no mortgage and you have 100% equity position, it's probably a good candidate to sell. Especially if you are thinking of grabbing up several other rentals. You can use your share of the proceeds and divide it into several more properties. 

Or if it's a good candidate for an STR, it could give you quite a pay bump.

If you want rental numbers and PM me I can probably get a rough estimate for you.