Should I sell or hold?
I have a rental property question. I have a property that I owe 126k on, it is rented but the renter has basically trashed it. It is a 3 bed 1 bath 1300 sq ft. I am getting $950 monthly but I owe $839, with escrow. It would cost me approximately 125-150k to renovate and get top dollar. That would be $276k to ask for a price of $400-420k minus realtor fees. Netting around 100-115k. I also have an offer for $205k right now to walk away, netting me about 79k.
What do I do?
Hold the property?
Try to fix it up to sell and make 115k?
Sell now to make 79K?