Rental Blues: Refi or Sell?

[Justin Brummer]

Needing some guidance. have an FHA rental that I lose $150/mo on due to giving family a break. Put a little money in Reno too and thought I could refi. With a 699 score and rates ticking up the lender said it is not worth the the $100-150 I would save to put me back even with the mortgage. That would be buying it down with about $6k. I owe 136, valued 185. PMI $60. Rent 950. Mort. 1050. HOA 50.
Question: should I stick it out while raising rent to appropriate amt and continuing to pay down, try refi later with better LTV and credit score+ wait for a good market.
Or...do I sell it and just walk away. and make almost $0, due to it needing about 10k more in work, 10k down pmt assistance loan attached, 6% to agents + capital gains tax. 

I know it’s a bad deal. It was our first house. We bought a new home and had to keep it due to it being underwater at the time because of the crash. Now it actually has equity but a lot of baggage too. What to do Bigger Pockets? I do have extra money to fix it up or pay down principal. 

[Steve Vaughan]

@Justin Brummer I can hear the heartburn and anguish in your post. Sorry to say, you are losing more than just rent minus HOA and debt service. There's maintenance and management/being on=call all the time for starters. Throw in repairs and you've got a real party.

I'd sell and start over.  The indigestion isn't worth it.