To sell or not to sell...
Hey guys, I own a townhouse/condo that I have as my primary residence and has potential to generate significant positive income... I owe $906/month (everything included) and other identical units are renting for $1400/month. I know condos aren't ideal investment/rental properties due to potential fluctuations in COA dues, but due to market increases around 10+ units have been sold in my 100 unit community in the last 9 months or so. The units were built in 2006-2007 so there isn't much significant repairs/replacements that need to be done. I'm planning to buy another property come February and live in it as my primary residence. My question to you all is do you think it would be a wise decision to sell this unit (potential $40k profit) and possibly by two single family homes (one as primary residence), or should I hang on to this condo/townhouse and rent it out? We bought in at $123k and units are selling in the $160k range, all within the last 9 months. These units have so much to offer and are HUGE, almost 2000 sq ft under air. Any insight is invited!! Thank you!