So it could take a decade to get to todays market rent. 2) it’s almost impossible if not impossible to non-renew a tenant, especially if you’re not an owner occupant. 3) As a seller, even if I could remove paying tenants I never would without a non-refundable payment from a potential buyer that covers all vacancies for 6 months if they fail to complete the purchase. 4) You MIGHT say as a buyer that’s worth it.

It’s also worth considering a multi-family property for your first deal since it can help with cash flow.

Even after one year, that property may provide thousands of dollars worth of appreciation, you will pay down your loan and build some equity, and you can depreciate the asset. 

Without knowing all of your specifics, I'd say that it's only worth holding on to if you can reasonably expect to have some really good appreciation in the near future (like 5 yrs)....Or, in the case where it would run well as a vacation rental, you could switch the usage, maybe?

Quote from @Quan Pham: Hi all,I'm in quite (to me) a difficult situation and looking for some insights.I'm buying a new house $1.2m @7.2% interest, and my current house is worth ~$780k @3% interest.

If you found this buyer I would say that its worth finding and then looking for the sellers but I believe that would take a lot more time than finding sellers and getting a bunch of buyers as opposed to just 1.

.- >65K in rent collected- having someone to bring in Amazon packages when it is raining outside- generally having someone to watch over the property when out of town oftenI think the headache is worth it.

i wouldn't cash out your 401K, it's not worth the penalties.the only thing I can say is to keep looking and don't buy just to buy.

Let him take the stuff because it is not worth your time to store it and then sell it.

If it's the difference between $1800 and $2200 but you have to cover utilities too, not worth it.