New Construction Investment Sell or Keep as Rental

[Kevin T.]

Hi,

I was hoping to get some advice on what other people in my situation would do.

I have been under contract on a new construction home since April 2021, which was supposed to be my first rental property. It looks like we are getting close to the finish line and will be closing in June. With rates rising significantly I am expecting to cashflow about $400 per month after PITI, Vacancies, Repairs and CapEx have been accounted for; I calculated about $700 per month initially in April 2021 but with rising rates that is eating away into the cashflow. The purchase price of the property is $273,990 ( Amount financed somewhere between $205k and $220k; I am putting 20% or 25% down still keeping my options open) and I could sell it somewhere in the $380s. This is where my dilemma comes into play:
Option A: Do I keep it as a rental and have a solid cashflow of $400 per month and gain some experience of what it is like to be a landlord?

Option B: Do I sell it and take the ~$100k profit (minus closing costs and taxes) plus get my down payment back and wait for the market to cool down a little and then buy something more valuable or perhaps even 2 seperate properties (risking higher interest rates in the future)?

Option C: Do I sell it, do a 1031, buy something else now and potentially risk buying at the height of the market and maybe being upside down in the near to medium future? 

Decision, decisions, decisions any advice is appreciated!