Seems overall, the demand has dried up.

Do each room and let it dry.

Currently, we are leasing the property, generating a net profit of $380 per month and living in Missouri.We are contemplating the decision to sell this property and potentially gain $239-278K payment to buy additional investment properties in Missouri given the rising rental rates in the area, we anticipate increasing our rent and potentially securing a net monthly profit of $780 (annual$9,360).While we acknowledge a monthly profit, our concern stems from the apprehension that the property might not fetch as high a price in the next five years or that our HOA fees and taxes could escalate.Given this situation, what course of action would you recommend?

@Jacklyn Robins many of the mentorship programs are designed to bleed you dry:(Most of the info they provide you can find right here on BP or locally via other investors in your market.Since you're not currently working, how many hours did you spend last week on networking and learning about RE Investing?

You could even buy properties out riding cash with that much dry powder.

Often the HOA Master Policy covers some or all; you/your insurance pays the HOA deductible; the lower unit pays for any upgrades they installed.Water damage that presumably occurred over some period of time could very well initiate mold growth if it was not promptly and properly dried out.

For example, when the entire town of Paradise, CA burned down a few years ago, many non-admitted insurers became insolvent leaving their policy holders high and dry.

Run it througha BP calculater, you'll see.I know that is not what anyone wants to hear, but REI has returned back to normal - the unicorn years after 2008 have finally dried up.

Also, note how Proposition 13 might be a factor in determining best option.This question stems from me wanting to buy now however what are the other pro's/con's to this? 

Sometimes a property purchased as a long-term investment ends up being a money pit, or the rental demand dries up in your market.