Even if you break even, you will lose money every month it sits vacant, when you need repairs, property management, etc.

And, if you’ve been in your house for a few years (or longer), there’s a good chance you’re sitting on a pile of equity — maybe even more than you realize.What Is Home Equity?

He is going to sit tight and get his occupancy up to 80% this fall.   

Denver is a buyer's market - houses sit for a bit (one month plus).

The slow and steady approach is fine for this property but it feels like a waste to sit on a low performing asset and assuming rent increase is a strong enough lever to pull on for FI.

The funds that we have are sitting outside of our retirement accounts

I did three thiings to rent the unit.......First I put an ad up on Craigslist, and Zillow rental manager which cross posts to trulia, postlets and another I cannot recall.   

I’m temped to order an appraisal this month, or does that seem like over kill and do you recommend I sit back and trust the real estate process?

We could build larger, but there will be less Buyers and the home can potentially sit for longer and holding costs get expensive.Not saying building larger is wrong, but just giving you our reasoning for our home size.But I do 100% agree with you. 

It sits on about 1000 acres 30 minutes from Fredericksburg.