@Alec Norman personally I would sell it and do a 1031 if possible. The cash flow is basically non existent. It's not just the maintenance but you get a turnover with a two month vacancy and now your down about 5K out of pocket. You also mentioned HOA... What if they do a special assessment? And lastly, have you looked at landlord insurance policies? Sometimes it can be cheaper and sometimes it can be more, just depends. Not trying to be a naysayer but for the little you will make in the loan pay down and appreciation, I'm sure you can find a property that still has some room for appreciation but also cash flows a lot better than that. Lastly, we are in a sellers market in most of the country and from the way things are looking, we may not be in a sellers market for a whole lot longer so you might be stuck spending thousands of dollars hoping that appreciation helps you out, only to see that you have to unload the property for less.
