Should I Keep Or Sale for $40K profit

[Conte Cuttino]

Hello, 

This property reno budget got out of hand but was appraised for more then expected at 191K. Home is not in a desirable location but good block so still waiting for desired rent which my property management say is high. Also my caged in AC condenser has just been stolen SMH! Feeling like that's a sign to sell on top of the low coc return. I'm thinking about reinvesting the proceeds into a better location but hate the taxes I will pay on the sale. Id like to get your thoughts on the report and my options.

Here are my options

Hold: leave 40K in the deal at 6.9% CoC Return IF I get projected rent

Sell: $41K+ profit, eat the taxes and go into better neighborhood

Should I keep or sale BP community  

View report

*This link comes directly from our calculators, based on information input by the member who posted.

[Joe Villeneuve]

Take your money and run. That equity will disappear from the CF issues and CAPEX. Take what you can get out of the property (even at a loss), and put it where you can make money with it. If you leave it in this property, you will lose more money you will need to recover (good luck). If you move it forward, you can recover the loss (so far) from this property, and have more gains, from the next.

Don't get attached to any property. Get attached to your money. You're supposed to be a REI...not a property collector.