Rent 1st home to enter REI?

[Kevin Jorgensen]

Hello,

I'm quiet new here, am interested in REI, but am at a crossroads and am ready for advice.

Classic question: Do I rent my home, or sell it? 

Based on the allpropertymanagement.com rentVSsell calculator, it falls on the "Rent" side of the fence.

I'm in the 97007 area code, with a house that's 11% above the median in a 'cool' market (according to Zillow - but it's nearly December, who buys houses in December? I digress). 

I foolishly bought in in June of 06' on an 80/20 100% finance loan for the 345k price.

As far as now:

- Loan at 4.25%, with remainder of $178,000

- zEstimate is $424,000

- Taxes suck at $4,400/year

- Monthly Rent zEstimate = $2,100

- zEstimate appreciation of 5.6%

I'm not keen on being a landlord, so would be interested in having PM done.

Between my wife and I, we have an income well over 200k, so either one of us could float the costs on this home if it were to go unrented.

(There happens to be a much more new home in the neighborhood also up for rent, but seems to have been this way for some time now, which concerns me, but I've yet to look at what they are charging rent)

Any good direction/advice on this I'd be keenly interested in.

Regards,

Kevin