ADVICE PLEASE- Inheriting a Home- SELL or RENT??

[Mark Dreyer]

Thank you for viewing this post. I have yet to purchase an investment property so all this is fairly new to me yet I have been reading a lot this past year.  Heres the situation- had an unexpected death in the family and was deeded a newly built (2019) home in gated in community in FL. The gated neighborhood still being developed, i.e. lots of empty lots still. New hospital will be finished in 2 years (growth potential).

Rental Calculator:

Purchase Price in 2019 new build - $362k

Amount left on note - $298k, unsure of interest rate but will use 4% as a guess. 

Down payment and closing cost- $0 for now unless the bank tries to have us refinance this into a new loan after COVID later this year.

Rent - $2200 (rentometer)

Taxes and CDD fees - $6000 annual

HOA - $165 monthly

Insurance $100 monthly

Repair/Vacancy/CapEx- 5% each (can I go lower since this is a new build and has home/appliance warranty?)

Property Mgmnt - 0% (new build and only 20mins from my house so I can manage it)

Appreciation 3%. Expense Growth 2%.

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Cash Flow: negative $317

Purchase Cap Rate 4.45%

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Rent or sell?

Can any values be adjusted more accurately? 

Should I place a dummy rental advertisement to see if I can rent for $2300-2500?

I know I am negative cash flowing $317/mth ($3804/yr) but I am also putting $0 money into this and then making 3% annual appreciation ($10,860/yr) and loan pay-down ($26,400/yr). Is this worth the appreciation play? I know cash flow is king and appreciation is just icing on the cake but this is what I am working with. Thoughts/comments?