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Updated about 3 years ago,
Rent or sell the home
I'm thinking of renting out our family home. For 6 months to a year. In VR area.
-Invested $150k into the home.
-Property taxes almost $900 per month, mortgage about $1,600.
-Probably worth total of $520 to 600k.
-Bought it for $450k.
-Rental possibly $3000/month?
I plan to keep the home for about 10 to 15 years so I'm thinking I might as well rent it out just for the year or 2 that I'm not staying in.
My family is thinking that it's too high of a risk to rent out because of the possible damages that a renter might do which might quickly undo any of the for not having to pay the mortgage for the year or two while the home remains empty.
what are your guys' thoughts about renting it versus selling it?
Thanks