Inherited a House... Sale or Rent? Need your Wisdom!

[Waylon Bruce Moore]

My father passed recently and we inherited his house. The house is 3200 sq ft, 4 /2 that needs a medium reno ( new paint, flooring, bathroom vanities, and kitchen cabinets). My question is should we sell the house "as is" which would bring us about $400k total or do the reno and then do room rents with shared spaces of the large kitchen, dining room, and giant living room? We could get about $4800 per month with the room rent. Need your wisdom! 

[Michael Haynes]

Hello Waylan Bruce Moore in Tampa. I am surprised that everyone seems to still think that property values are still going Appreciate in the the next ten years. Your at the Top of the Market. The Real Estate Cycle used to be 7 to 9 years. With Covid and the Fed Rate hikes we could have a multi-year downtrend from here and Then, ten years to the next run up. Everything for me is a Trade, Short Term. I look like you and have no more time to fool around. You need to get with someone that knows all the Tax Rules and unforseen implications. Put down all the Numbers with each scenario and then, make your decision as an Informed Consumer.