I would get the story from him before making a decision.

This can inform decisions on rental pricing and future development. 

We are for sure NOT going to have the tenant pay the previous owners directly, but instead pay us and we will make our decision from there.Thanks!

And a little skepticism that the market would continue to grow at 5% or more on average (it's been ~7% average for the 8 years I've lived here)@Dave Foster I filled out the BP spreadsheet here for the sell or rent decision, and similar to you advice, selling and investing the profits in index funds performs only slightly below being a DIY landlord, making that seem an attractive option. 

Hi Everyone,I’m a newbie investor weighing some key decisions and would like to know how an experienced investor might approach this situation to maximize value and cash flow.

@Sonu Sundar your VERY incorrect. 

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.There are over 20 real estate accountants on this site.

When my friend started using them they were aggressively looking for rental portfolios in the market so he is sort of grandfathered in with them.Hope this helps with your decision.

Cosmetic repairs that don’t pose health or safety concerns are typically optional.Then be very transparent and communicate thoroughly to the tenant, as to provide a professional explanation for your decision forward. 

The fact that you’re being cautious and analyzing strategies is actually a good thing—it’s all about making smart, informed decisions.