Well we barely made ends meet again but our house is so huge!

In any particular year for any particular property your actual results can be somewhat better (taxes and insurances are the bare minimum) or can be much worse (no upper limit.)

Personally, I won't look at anything that would rent for less than $400/month bare minimum and I prefer $500/month or more.

Its safe to say that I live in a cheaper area of the state.This particular place is not in a bad neighborhood and is acctually just barely outside the main part of the city, less than 2 miles.

“Buyers loved upstairs, but downstairs was bare.

I know you're not supposed to gamble on future appreciation, but there are barely any houses available in this price range, the location could not be much better, and the yard is fenced and large.

I get MLS updates for my target neighborhoods and there's barely anything to look at right now, let alone priced attractively.

The purchase price is so minimal that interest rates, etc, barely put a dent in the pocket so I'm comfortable financing while using most of any potential rental income to just put back towards the mortgage to have it paid off in a much shorter period.

Now the tenants are moving and it's decision time:1) rent it out again at a slightly higher rate to improve the cash flow (right now it is in the red every month because I have a 15-year mortgage on it),2) refinance it to a 30-year to lower the monthly expenses (still will just barely break even)3) sell it and use any cash for an investment with a better cash flow.Comments?

It barely breaks even.