Rent vs. Sell

[Parker Harrison]

I am currently living in a 4 bedroom single family home that I bought mostly as an investment because I stumbled across it while initially house hunting. I got the 2500 sq. ft., four bedroom, two car attached garage in North Carolina as a foreclose for $118000. Since acquiring the property I have not had to do any major repairs. The houses value is $150000-$160000. I have been very interested in real estate investing in particular becoming a landlord. Current rates in the neighborhood are going for $1200-$1300/ month. My only reservation would be taking on more debt as I have been working the baby steps to get out of debt. From a pure analysis standpoint, what would your opinions be for a business decision?