I'd sell because you are reaching the time when you lose the cap gains exemption and that $24K would take over 2 years of renting to get back.I had a condo that I owned for a long time and I sold it despite it being paid off and having long term tenants. 

@Derek States Have they mentioned what type of development they'd like to see on your site?

Are you currently investing in your hometown or are you looking at out of state markets?

Its a way to scale up without battering your own personal ability to buy personal real estate.

So, what is happening today is not as important as what will happen in the foreseeable future.If rents are increasing faster than inflation (I use 5% per year as an average rate), then it may be worth holding the property, since your cash flow will increase as rents rise.However, in your post you stated, "Mortgage rates have kept increasing as well, that's why I put a range on negative cash flow."

Fees should be clearly stated in writing, easy to understand, and justifiable.

If you're in a high-cost area, consider out-of-state markets where you could buy a rental property outright. 

Does the LLC file its own tax return, or do you report the activity of the property on your own personal tax return?

I specialize in investment properties, high-end homes, and commercial real estate, and I run Updegraff Group Realty, a full-service brokerage that helps investors not only find and fund deals but also manage construction, optimize returns, and scale their portfolios.Financing Your First Deal Without Using Your Own MoneyIt’s a common question, and the truth is—it’s very doable, but it requires strategy and relationships.

It’s still surreal to me that I’m able to own real estate at 20, but I know this is just the beginning.