Sell or rent a 100% debt free SFH

[James Rodgers]

Hi Everyone,

Happy Thanksgiving ! 

I have close friends in Montgomery, AL who are about 60 and 100% own their 4 bed 3 bath house. They have expressed interest in moving after living there for close to 30 years. It is close to a couple small Universities and decent retail/food areas, so I could see it appealing to many different tenant types. However, I personally know that it has serious foundation issues. For as long as I've visited this house there have constantly been new cracks, no matter how many they fix. I know that at one point they had contractor work done on the foundation, $10k worth or more. Basically, I don't forsee that aspect ever improving. 

My question: does it seem more profitable to do a BUNCH of aesthetic fixes and sell? Or rent for probably 1200/month? I can see pros in cons in each scenario, and if they rent out I might be the property manager.

Thanks!

James