Need Input on whether to Sell or Keep

[Simo Hak]

Hello,

I bought a home to live in in December of 2015. Fast forward 2 years later I had to move out of town for work and had to rent it. The rent income nearly covered all of the costs (PITI + PM) and the last two tenants broke their leases early and ended up buying their own home.

There is some deferred maintenance around 25-30k that I have delayed because it was a rental. I tried to put the house on the market for Sale and I got an accepted contract for 24k (list price 299k accepted 275k) less than asking price as is. The potential buyer did the inspection and found that the patio deck (15k to replace) was deemed unsafe and needed to be redone and ended up terminating the contract.

I need input from savvy investors on what would be the best course of action here to capitalize on this opportunity:

1- Relist the house on the market and hope for a better buyer and knock down the price? if so, by how much?

2- Handle the deferred maintenance (25-30k) and list for rent and then refinance (room for increased rent) 

Any input is greatly appreciated