The purpose would be to rent it out through a property manager just like a regular single family home.

It was an investor who'd bought a sfh with some land, rented the house, and then partitioned the land as a small RV storage.

This amount includes utilities, taxes, insurance, repairs (8% of rents), vacancy (8% of rents), and capex (5% of rents).Link to the Redfin listing: https://www.redfin.com/ME/Augusta/39-Oak-St-04330/home/99940...

It has only been rented for 4 years of the 8 years I have owned it.

Are you sure $1000 is market rent for your unit as the upstairs is renting for 2.5x time?

The property is rented by DCFS ( department of child and family services) a government tenant and are occupying the building for last 30 years and have no plans of relocating.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Hi Emanuela,You could consider doing a HELOC but I would say that's only up until the amount where the rent covers the full payment and then some.

I've talked to a few agents in Memphis, and the impression is that vacancies are up, rents are down, but prices ARE NOT trending down? 

And when you market your home for rent...if the other properties are at the same price but look better than yours...that means they will rent first.