Single family home rental

[Tim Clark]

I am at the stage before newbie when it comes to rental properties. We are debt free, in great financial position and are considering moving. My question is would it be better to sell our house or to rent it out. I know that to answer this a lot is determined on what is needed when we move, but the framework of my question is based upon the assumption that my family will not need the cash from the sale of the house or from the rent. I have always been told that it is best to be close to your rentals but in our case, we could be on the opposite side of the country.

Tim

[Greg Farabaugh]

Is the house in a location where renting it would make sense: Decent demand, covers all expenses + cash flow (assuming yes on these b/c of debt free)?  It might be worth talking to a local realtor/Prop Mngt company about options before making a decision.  I have some family in a similar situation ~7yrs ago: Central PA, moved to Texas, then moved to Ireland.  Out of PA for around 5yrs and successfully rented their house the entire time to one family, and still renting it today after moving back.

It can definitely work if you have someone local that can manage the property (PM group), or if self managed just check on the property for you once in a while.