Rent or sell that is the question

[Troy Forney]

I have purchased 5 properties in the last 2 years. Of those 5 I have completed one successfully with the BRRRR strategy. We currently have 3 solid rentals. The last two were intended to be be done as a BRRRR's, however, after taking a mortgage on the property and seeing that these properties were not renting for what I had anticipated, I decided to sell them. The first of the two is sold. I have one remaining. It is currently on the market and sold, however, the buyer backed out after the home inspector found some discoloration (was not tested for mold) in the attic. I agreed to have entire roof replaced with the wood that was discolored also. So anyway, I am having the entire roof replaced and corrected. (the original owner did the roof and insulation incorrectly) So long story short. I am in all cash $80,000. on this house. If I sell it, I will make about $5000. after taxes. Plus get all my money back to start again. (Learning a lesson on this one) Or I can take a mortgage on it for about $55,000. and rent it out and make about $2200. a year after all is paid and reserves set aside and accounting for 8% vacancy. Also I have accounted for when the homestead comes off and taxes go up. I can also state it is in a high C neighborhood. History shows appreciation as been minimal, but a very stable market. Think that's all the info. So whats everyone think? Thanks in advance for your valued advise.