Former primary residence, time to sell?

[Ayne C.]

Ok help me think this through. My former primary residence is in a super nice area of town and I have it rented to a long term hassle free tenant. I'm again debating if this is the time to sell, as it doesn't fit my criteria anymore. Its been over 5 years since I've lived there so if I sell, it would need to be 1031'd.

The numbers:

Purchase price 250,000 (in 2012)

Owe: 167,000

Current value 360,000

Monthly Income:

Rent 2500 (has agreed to 2600 in May)

Monthly Expenses:

PITI 1,692

HOA 83

Pool 112

Lawn 121

Lawn chemicals 54

Pm 8%

Would you keep and pass more expenses to tenant, or lease to own. If keep, lease for a year or month to month? If you lease to own how would you structure it?

Thanks.