Sell as-is or rehab and rent?

[Sergio Rios]

Not sure where to even start. My dad bought a house as a rental and I liked so I moved in and have being the mortgage from day 1. He bought the house for $100,000 and the county has it appraised at $135,000. We’re in the process of doing a cash-out refinance and will be giving my dad his initial down payment back which will bring us to $108,000 mortgage. Appraisal in next week and should be able to close on this in two weeks. The house needs several things fixed, and I’m not talking cosmetic. A bathroom that hasn’t worked in 4urs. The entire a/c needs to be done. And then a few cosmetic things such as new paint, cabinets Just to get it up to the neighborhood standard. I guess my question is: How do I go about starting an analysis and determine whether to sell the house or rent it. I guess I could sell it without doing anything but perhaps my yield would be a lot less. Or I could invest into it and rent it but my dear would be hat this house would just need TOO MUCH LOVE to get it ready to do either. I would PREFER to have a rental if possible. How do I even begin the thought process?