Help me decide: taka loose or rent out at low COC

[Shmuel Waldman]

I purchased a house at the sherif sale It is in a neighborhood that the average house s 1500 SF selling at $120 per SF This house is 2500 SF I purchased at $151k cash Due to a serious unforeseen issue my assumed rehab cost of $90k turned into 110k My holding cost is 950 a month all expenses in My issue For someone with $300k would probably want to go to a different area After broker fees my lowest I can sell to break even is $280k I tried $300/295/290 with no luck My question Do I take a loss and dip lower Or Rent for $2200 a month After all expenses I will be getting a 5.5% COC return