i would sell it. even if its cashflowing say 500 a month, you have capex and tenant headaches. you will pull out almost 10 yrs of buy and hold equivalent profits by selling. i would do this in a heartbeat.now appraisal at that price doesnt mean you will find a buyer. if you are  to say sell below 70k, i would think about retaining it.

The property is old (90-100 yrs old) but has been recently rehabbed.

While it technically comes out of the sellers proceeds, I believe sales prices go up to compensate for this (hence the higher prices with an agent), but given that the buyer is the only one showing up with funds to most closings, it is really the buyer paying for both sides and even paying 15-30 yrs of interest on it in most cases.And I do agree the system is somewhat broken.

I wish that effing scumbag would try that on me, I'm not 67 yrs old, or fragile, and not able to defend myself.

People often assume they're going to keep a mortgage for 30 yrs.

I'm working on different scenarios for money down right now, I'll have them in a few minutes.Just to explain better the 59 yrs and the 40 yrs that someone asked about.You were absolutely correct that 40 yrs is no better than 59 when it comes to your holding period.

Even the carpet in my home is showing it's age after 5 yrs, and my wife and I are OCD about taking care of our home.

He says it is of the lesser variety 7 yrs. ago and it will be off his record after 10 yrs.

However you can take a loan to buy your first home and have 5 yrs to pay back.

I moved to poughkeepsie 15 yrs ago and started buying.