I originally lived in it for a year, while if fixed it up so i only had to put 5% down + closing costs(25,000), and the property has appreciated 8% over the past two years(20,000) but not sure if i should rent it at a loss and structure the lease so i am  in a more favorable leasing cycle, or plan to sell it.

We still see one another, but it's not the close family ties that once existed.

so your close to getting about $7 dollars a day profit by tieing up 400k as an absentee landlord?

it typically takes a few years just to recover the closing costs. those are the types of things that get sugarcoated / ignored and they shouldn't be.3 separate recent sources show that it is cheaper to rent than buy at high LTV in virtually every market.  

It's also a fluid situation as banks are constantly being acquired or merging so paying close attention to which banks these loan officers move around to is generally a good indication of which banks are going to offer the most aggressive terms.

@Ryan LeakeI've always stuck pretty closely to AirDNA when running numbers for STR clients here in Colorado.

I am currently going through the process of closing on my first multifamily deal.

@Greg Hammond If you decide the property is no longer worth holding on to and you decide to sell, in addition to the capital gains you want to consider depreciation recapture as well as any closing costs and commissions.

I would ensure you have enough saved in reserves to handle down months, furnishing and decorating the entire house, closing costs, etc.

It’s pet friendly with hardware floors and a fenced in backyard.