Sell in hardship or ?

[Alison L.]

Sorry I posted this twice. I put it in the wrong discussion forum before. 

I am out of work and my husband will loose his in October. 

I have some money in a IRA. About 13k

I own a condo rental in another state. It's in a killer location in Dallas. Rents for $900/mo. Old building near new stuff. Makes about $250/month after taxes, insurence, HOA, and saving $2500 a year for inevitable repairs. (Spent 2500 already).

We own it 100% no mortgage. I don't want to sell...but 

Kept it because we hoped the location real estate prices would go up.  Right now, after fees it may break even. 

Technically it has gone up, but I inherited it and the price associated was inflated about $8k. (Mom didn't hire the right person).

Anyway.  We are both smart and educated, we will find jobs but not quickly.  With bills piling up, I see the we worst. We live in SF, the most impossible city and will be forced to vacate by November if I did my calculations right. 

So, sell home or be homeless is what I see as my future. I wasted a lot of time thinking things would get better soon. But with a month till poverty or giving up my savings, this condo feels like dead weight. 

Asked hubby if he would move to Dallas and look for work. He said no because he would have to leave his kids so that feels out of the question as well. 

Advice is needed. Raising rent not an option in this place... already at top end for a 1968 building. 

Is there a way around selling or ways to get support? We are already paying off student and healthcare loans, so another loan may not be possible. 

Thank you so much to whomever answers. I've never been in this situation and I'm truly scared for my family.  

[Zach Adams]

Alison Lewis sorry you're going through tough times. Without knowing more, I'd do everything I could to hang on to that property. How about a cash out refi since you own it free and clear? Take about $40-50k to get back on your feet. Also what about temporarily relocating to a less expensive area in the Bay? Richmond , Oakland, east bay? Good luck and best wishes