Sell or hold as rental?
Hello BiggerPockets community!
I need a bit of help deciding if I should sell or hold one of my properties. This is a brand new manufactured home we are installing on a small lot about 10 minutes from our primary. The title will be eliminated on the home. We have done a few other similar deals prior to this and have sold all of them. We are interested in trying our hand at being landlords. This property seemed appealing as it is so close to our home.
We have about $250,000 in the property and could easily sell for $350,000. Alternatively we could finance the $250,000 on a 30 year loan at 3.85%. We should be able to get about $1800 per month in rent for this property.
My concern is we are in Western Washington which is pretty pro-tenant. I have heard rumors of a 2 year rent moratorium potentially happening here. On the flip side we have been having great appreciation in our area for years. We are also in an amazing seller's market.
Looking for opinions on what more experienced investors would recommend. Thank you!