Fix rental house or sell it & buy a different one?

[Tina C.]

Hello everyone,

I am a newbie and need some advice. I have a cash flowing rental property out of state that needs work done on it. It is an older home with a huge backyard. It needs a lot of minor work but is eventually going to need a new roof and a new Water Softener. We include lawn service in our rental because we have found that prior tenants cannot keep up with the maintenance of a yard of this magnitude (almost an acre with lots of trees). We have a great tenant in place but her lease is due to expire in June. The property also gets drafty during the winter months. I would like to know if I should sell it and get something a little newer or if I should take out a personal loan and just fix? I don't know if it's worth keeping due to all the repair hassles. I would appreciate any advice.