Sell, Refi, or Hold

[Clint A.]

Hi, a family member of mine has a rental property that they have negative cash flow on every month and are considering selling it. I'd like to hear your opinions on the Sell, Refi, or Hold options. 

• Purchased in 2006 for $140K
• Refinanced in 2012 for $102K @ 4% for 15yrs
• Monthly payments are $855(PITI) + $280(HOA) = $1135
• Rental income is $900/m which is maybe $25-100 low for the area
• Comps in the complex are selling for $110K
• Currently owe $84K