Renting or selling my 1st house

[Dan Cerempei]

I'm in process of buying my 2nd property as my maine residence. Thinking to rent my 1st property. Just numbers don't really add up. So: 

1) 1200$ mortgage payment 

2 ) extra 100$ a month cause we are loosing homestead exemption (from 1400$ going up to 2600$)

3) Aditional 50$ for rental insurance a month

4) Property management 10% of 1600$ of expected rental amount = 160$

MATH IS : 1600-1200-100-50-160=90$

I know, i may loose money at the end of the year after repairs...But my view is to gain equity and market value gain,,, looking as a saving account/ retirement.

Option 2 is to sell it and profit 30k and maybe reinvest in a better rental oportunity.

Thanks for y'all answers. Exited to be a new member of the bigger pockets!!!

[Bob Langworthy]

Sell it for either of the following reasons:

1) You didn't buy it as a rental which is why the returns aren't good.

2) You wouldn't buy it as a rental because the returns aren't good.

Build equity in a property that cash flows nicely. You'll be much happier.

Hope this helps,