Hi Brady,If you are looking at it from just from a dollars and cents perspective then you should keep the tenant. 

Many are looking to retire or shift out of active management, especially as interest rates rise.From what I’ve read in Bloomberg, Austin's market in 2025 remains highly competitive but still has opportunities in older neighborhoods and suburban areas.

They provide diversification and liquidity.1031 Exchange into Syndications or Passive Investments: This keeps you in real estate but shifts the burden of management to others while potentially preserving tax advantages.At the end of the day, peace of mind is priceless.

They won’t offer financial advice or specifics about what they think you should do but are there to answer questions and help you look at things from different perspectives.

Quote from @Paul Azad: Beautiful property Blake, and great growing area, i drove through a few years ago, amazing scenerey and perrenial vacation spot, would you feel comfortable sharing the structure of the syndication for the investors, fees, projected IRR, or time weighted avg returns etc from a potential passive investor perspective?

While I haven’t invested in NYC specifically, I can share a bit of perspective: For a 3-year timeline, buying can make sense if you’re confident in the market’s appreciation and can find a condo with flexibility for renting it out later.

For investment properties, it’s true that buyer agent commissions have seen shifts recently due to legislative changes.

Quote from @Kristian Sexton: Speaking from a PM perspective if you were going through an eviction process they probably assumed that the tenant would just leave the property. 

These additions are a practical way to maximize returns without acquiring new properties.Vacation Rentals: An oversupply has shifted many owners from short-term to long-term rental strategies.

At that point the unit becomes no longer tenable to rent from an owner perspective as it is actually COSTING me money to have someone live there.