Should I keep or sell my home for cash

[Said Hofiani]

Hi all,

I currently have a 3/1 in west end that took more money than expected. This was my first purchase and I learned a lot on what to do and not to do. 

I double closed this property at 68k. I did the flooring and painted the interior. My guy who checked out the property did a bad job (no longer working with him). So I had to buy a new hvac and I cleared out the pipes. I refinanced thinking I’d keep this forever, but now I’m thinking I should just try to sell and use the cash for a flip (not sure if I want to rent)

I owe 75k and was hoping to sell for 95-100k. Maybe 10k cheaper to an investor. 

Would I be crazy to sell at a little bit of a loss and hope to make a better profit to offset the loss with a new property? Or should I keep it as it cashflows $250 on a section 8 tenant with a 2 bed voucher (could make more if I had a 3 bed voucher tenant~350-$400). + equity for keeping the home for years 

[Caleb Brown]

I think a hold is a good option as long as the area is decent. If it is a rougher area where you'll have management head aches then I would sell. You don't have a ton of equity so there won't be a lot to roll into another one, on the bright side you aren't in the red as it stands.