I would like some opinions on my situation.
I wanted to ask everyones opinion. I bought a 130k mp house when I was 25 in 2005 for a 115k, I did not buy this as a rental, but a place to live and fix up. Since then as everyone know the market tanked and came almost back to what it was. The lowest I saw the value was 77k I was watching the price cause I out grew the 2 bedroom house. I have spent around 50k in repairs and upgrades while living in it. literally almost everything is new plumbing, piping, ductwork, electrical, roof, insulation, drywall, windows, doors, furnace, hot water heater, sump pump, ac, exterior paint, hardwood floors, kitchen, bathroom, water softner, patio. Although i Realize now, i may never see a good return on investment in this place, but i put too much into it to sell it for 120k. I moved out and am renting it out for 1200 544mort, 208 taxes (sewer assesment), 73 for insurance, 120 maint, 120 vacancy, 17 hoa, leaving me 118 for capex and cashflow. Id like some experienced investors opinion on the situation. Am i setting myself up for failure with little to no cashflow, if the market tanks again and i have to lower rent i will be in the red, but selling at this point i would be pissing away the 50k + all the interest ive paid over the 12 years. what do you guys think?