Sell or Hold Rental property

[John McLaughlin]

I own a rental in the outskirts if San Diego City.  I would consider it a B location.  Due to location its been easy to rent over the years but the quality of the tenant lends itself to a larger turnover expense when they tenant leaves.  But they do tend to stay for at least 2 years.  Here are the details.  Looking for advice on whether I should sell or continue to hold this property.  

Paid $300,000 in 2003

20% down $60,000

Loan Balance  $210,000 (approx) I hate not getting monthly statements anymore

Current value $500,000

Curent PITI and fixed monthly expenses $1800

Current Rent.  $2300

Improvements/repairs $30,000 total

expected expenses in next 10 years.  $20,000 (roof, HVAC, etc)

Current and expected appreciation rate 3-4%

I think I covered everything but let me know if I missed any pertinent info.  

The next question would be…….What do I replace it with?  I was thinking a commercial or 5+ unit property ether local or out of area.  My self employment status does not offer many residential financing opportunities so I was think commercial loans would be more readily available.  (Thank you Dodd Frank)

Any input would be appreciated.