What to do with a rental

[Nick Ragucci]

I am in an interesting situation where I am in need of money to finish renovations on my primary residence. We got hit with some surprise costs that I can’t afford.

Option 1 - Cash out Refi Rental Proterty

Option 2 - Sell Property

Option 3 - your ideas.

The question is which one will have lesser of a tax burden. I think option 1 upfront but what about in a couple years when I actually do want to sell.

The other catch is the high interest rates today and doing a refi will be expensive.