Sell or Rent? Any opinion appreciated.
Hello, I love this forum and find this community so helpful. So I figured it would be a good place to discuss my dilemma. So here it goes.. I own a property worth about $320k, with a mortgage of about $100k on it. I can rent it out and make about $500 a month or sell it and buy something smaller cash and make about $1000 a month. This seems like an easy answer but I have an emotional attachment to the house, and if I ever moved back to the state I would prefer to live in the house. So my question is.. To a rent and hold the house letting the tenant pay down the note and make $500 a month, or do I cash out and buy something cash in a few months when interest rates go up and prices drop? Any advice would be appreciated, I know this might sound like an easy decision, but it's harder when you have emotional attachment to something.