Or if your gut tells you that your family will be happy in this new location, then follow that instinct!

Firstly, it often generates higher rental income compared to long-term leases, particularly in desirable locations or during peak seasons.

What if you had 5-8 paid off rental properties in great shape in great locations? 

I think both of your strategies have merit, but here’s my take based on what you’ve laid out.Moving to a rent-stabilized apartment and renting out your condo as a mid-term rental could be a smart pivot, especially with its location near a hospital and LGA.

They get a higher return since they are covering housing cost, have the $250k per spouse primary residence deduction in gains, is a savings account, higher leverage position, lower interest rate possible, will pay more premium for location, etc.House might be overpriced for REITs but not for home owners.  

It is located on a very scenic setting.

Buyers are loving the softness of Champagne Bronze, and we are using that color for lights, plumbing fixtures, and cabinetry hardware.We find that these elements work no matter where you're located in the US, and no matter the ARV! 

property location/ condition?

Great Location.

The property is in a great location,  close to stores, restaurants, fair grounds, freeway access, and less than a mile from hospital.