Rent or Sell?

[Shawn M.]

Mom owns a condo but due to health issues can no longer go up and down stairs (condo is on second floor). We are looking to rent a ground floor apartment for her near us. As for her condo we are debating on whether to sell or rent. She purchased unit 10+ years ago putting down $7,500 but then refinanced (rate 6.75%) during the housing boom. She can most likely sell property for about $13k more than she paid however after agent commissions and closing cost she would walk away with only $7,500. Or we could rent the unit, which after all expenses including mortgage, would have a positive cash flow of only approximately $100 per month. The association is in good financial shape with reserves and recently had all major maintenance items (roof, painting, paving, etc) completed. Would you keep the property as a real estate investment or sell it?

I appreciate any insight you can provide.