Should I sell or should I rent my old home?
I'm buying a new primary residence. I'm torn between selling my old house or renting it. I believe I have somewhere between $40,000-$60,000 in equity in my old house. The reason to I want to sell, is I would like to learn to flip and that would give me some start up cash. Also I feel like anytime you can take some profit out tax free, because it was my primary residence, then I should take it. Also if I decide to sell. Is there any rehabbing to be done to a old primary residence that would increase value enough to warrant the effort. It seems the same principles would apply.
Reasons to rent, I would probably break even on the rent=payment+expenses. But its in my comfort zone. Not much great about renting that I can tell.
I would appreciates experts thoughts on what they would do and why.
Thanks for any and all help,
Kirk