Purchase price: $18,750 Cash invested: $15,000 Purchased old house frame on 1/2 acre, intending to improve it and sell it.

Quote from @Dan Deppen: One that I've seen a few times is people thinking they can sell a note based on the sum of all the remaining payments instead of the principal balance.  

Profile here for reference: https://www.biggerpockets.com/users/amyb289It stood out as oddly out of place to me to the point where I recalled it and was able to dig it up tonight.Anyway, again...

Why did the previous owner sell it for only $85,000?

My friend was selling the land nearby How did you finance this deal?

And why sell one property that gives you $400/month cash flow, just to get into another property that cash flows the same?

He abandoned it during his demon years so his best friend took it over and added a couple more people before it desolved due to all going off to college.In college he had a side hustle of finding things on free sites, putting them up for sale, selling the free item and offering to transport it for a modest fee.  

My question is, is it a good idea to try to rent the property or should I try to sell it?

That’s the first thing that comes to my mind - sell it and walk away.

The plan was to fix up that house an rent it out long term but with the market being high and I was moving out of the area it made more sense to sell at time.