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Updated about 11 years ago,
Rental Hold or Sell and move gains to another business
Tenant moving out and I'm curious what the thoughts are on selling this rental. We have owned it for almost 2 years...
Purchase Price $44,000 Improvements $36,000 Total Cost $80,000.
Current rent $950
Mortgage $776 month (ten year note P&I)
Taxes $60 month
Insurance $30 month
Cashflow $84 month
Current Debt $76K
Estimated Value $130K
The casflow isn't very good but I have about a 10% return of my actual cash invested in the deal. Would it be worth it to walk away with around 40K now or just hold? I would use the funds to put towards a business.