Deal Analysis and Advice

[Jordan Melendez]

First of all I am a newbie and am ready to dive into real estate investing while working my career as a LEO. Any guidance/advice is greatly appreciated. So I have a SFR 3/2 in the central Florida area, B community. I purchased it on an FHA loan for 179k a little over a year ago and now owe 172k on it. The property is now worth approx 200k. The mortgage PITI is $1130 and market rents is about $1400-$1500 in my area. I have a potential tenant/buyer who I know through work that between the spouses earns approx $5k in monthly income and after speaking with them they are interested in a lease option type of deal as they need to work on their credit in order to later obtain a mortgage. How can I structure this deal to make sense if it makes sense to even do it or should I just outright sell and use the cash for another property that cash flows or should I just rent it out and wait for market rents to increase? I wanna make the right move as my wife and I are stepping into REI for the first time with this deal and want to Buy and Hold SFR and multi family and try our hand on the BRRRR method moving forward. Cash flow is the goal I wish to begin achieving. Thanks ahead of time for your thoughts and advice.

[Dan Mahoney]

@Jordan Melendez If you are confident you can get $200k for it, get a realtor and sell.  Assuming you are not living in it.  If you are living in it, wait another year and reassess.  Even if you get $1,500 rent you won't see much cash flow after expenses.