Have condo to rent or sell, what is best?

[Mel Rosario]

I'm wondering if I should sell my condo or continue to rent it, opinions are helpful at this point. Per realtor, the condo should sell appx 2 weeks, supposedly a hot market right now. It's located in the Inland Empire of California. Current market value is $450k (paid $330k) while rents in the areas go for $2k to $2100/mo. HOA is $210/mo, property manager takes about 7%, property taxes $4,400 per year, and insurance about $60/mo. I break even, no cash flow every month, renting it out at high market, probably will still be negilible, BUT still building equity about $5k/yr
My plan was to pay this off in 5yrs, but who knows what the market will be then.  Also, I wanted to do a 1031 at that time.  If I sell it now about $27,500 unless i can negotiate for less, goes to commission,  plus closing costs, not sure how much.  I still will pocket over $100k.  due to depreciation, per accountant, I won't have to pay capital gain taxes.

Reason why I'm considering selling are multiple, to name a few:

1.  hot market

2.  it's a condo, if still true, they drop faster in a bad market.

3.  I break even, no cash flow except paying down the loan


cons:

1.  realtor commission and closing costs

2.  I hate selling, as price may continue to rise but its a condo

3. HOA can always increase, they also have so much rules.

Anyone have any opinions?  I'm leaning in selling, but last property I sold appreciated $500k in less than 5yrs, this was located near the beach, I'm hesistant on selling.  The money if sold will go to pay off other mortgages and I can start over buying houses or multiplexes versus condos.