Inherited rental property 50% ownership should I hold or sell ?

[Deanna McCormick]

I inherited a  rental property ( house & 2 bungalows all on same site ) it is free and clear no debts, I own 50% other share is sibling, we have both worked on this property for years together and have no issues managing the property. I expect no huge repair costs soon, but have a good reserve to cover if needed.  All rented out and long term tenants, projected vacancy loss is minimal. 

Projected income for 2017 after expenses,including estimated income tax will be a net profit about $18K, Split is 9K each. 

My immediate family wants me to put it on the market,, I am the decision maker and not so sure I should do that yet. 

I don't want to take a loan out against the property for investment purposes, I did that for a flip, a 2 years ago and was stressed the whole time, did make a profit of 30K but if I do that again it will be totally with just my money. 

I'd like to plan ahead,is this amount of income enough justification enough to keep it for awhile yet.. 

Or should I free things up and have more options. Once it's sold it's gone.. If i put on market would be in the next few months.

[Chris T.]

@Deanna McCormick

Sounds like you prefer to keep it. But your sibling doesn't. 

Granted you're the decision maker, your sibling might not like it if you decide not to sell. Sometimes working with family is not the easiest. 

Maybe a 3rd option is to buy your sibling out, if the numbers work well for you. Then you have full flexibility on what you want to do in the future.