Keep or Sell?

[Jim Zatko]

I'm new to real estate investing and I'm planning on doing it as a side hobby, not a full blown career. I currently have a nice house on my hands. I bought it at Auction.com with cash for 50k, and comps are around 100k. I put in 22k of my cash into it, so I'm all in for about 72k. If I list it I will ask 99k. In my market, you pretty much have to pay for closing cost, ect. So if I list it and pay all of that and the realtor Commision I'm looking to profit about 12-14k. If I keep it, I'm thinking it will appraise for 100k and the bank will loan me 80%, so I could potentially profit 8k from the mortgage, and then put a renter in there and let them pay off the mortgage, and I own this house forever. I'm just looking for some advise/ input.

[Brian Ellis]

I would look at how many times you could duplicate a deal like this in your area? For me I want to replace my income for you its a part time thing. I say refi and rent that thing out but keep in mind it will take a long time of renting to pay that 80k back.