Hold or Sell Small Atlanta Condo

[Greg Brown]

I have owned a 1/1 in Atlanta for about 14 months now. My Idea was to live there to escape NE winters and rent it out in the future after 1 year. 

Well of course a % rental cap is in place and I can't rent it out now according to HOA. I knew there was a rental cap in place before I purchased it and that I would be placed on an owner's wanting to rent wait list.

Should I hold on to the property or sell it and invest in other opportunities? 

The location is prime next to the Atlanta beltline and across the street from a mixed use development, Waldo Atl which should be done in a year. At the moment I don't mind visiting  for a week or two every few months. I even allowed a travel nurse friend to stay there for a few months.

[Jingru Sui]

Cut the loss in my opinion. The appriciation on  condo is not nearly as great as sfh.