No Cash Flow on Rental in San Antonio

[Cynthia Johnson]

Hello Everyone,

I am a newbie real estate gal in San Antonio, Texas, and it’s taken me some time to feel educated enough to even ask pertinent questions, but things are starting to gel after a year of reading and listening, and I finally have a situation I would really like some advice on:

I have a property I’ve been renting out for two years with a local property management company. The house is 10 years old, and between several AC repairs and multiple plastic PEX plumbing leaks, I’ve officially taken a loss of about $2K for 2018. I’ve run some comps on it, and it would go on the market for about $196K which means I have about $67K in equity.

What would you do with this property? Sell outright? Offer a lease option to tenant? Or, just hold on; maybe it will cash flow next year?

Thank you in advance for taking the time to offer your opinion.