Is it a good Idea to sell or rent the home out

[Michael Y.]

With me being new here and new to the Real Estate investing world I figured I'd ask you guy's for professional advice. As you know the Vegas market is hot right now and I'm fortunate to be sitting in the driver seat. I don't think anybody new the market would take off like it did. Me personally I purchased a home just to lay my head. But now it has opened my interest about investing for long term wealth and I can't get enough of this stuff lol! So here's what's going on should I sell the home and take the profits or rent the home out? I plan on moving next year, at least that's the plan I'm shooting for. Also how about an equity loan to purchase another buy in the state I will be relocating? Is this possible and a smart move? Again i'm new so chime in. The thing with renting out your home is I hear horror stories all the time. Do I want to deal with all that especially HOA's? I would love to hear your guy's stories and advice.

[Bill B.]

I would have zero regrets about renting it out if you were staying in town and moving to a new home. But, if you’re leaving town AND have MASSIVE profits I would sell when you move. Those gains are tax free as your primary. I’ve had WAY more damage from leaking water supply lines than intention tenant damage, most horro stories are just that. “A friend of my friend’s dad, rented out houses once....”