Thinking of selling off a rental property - renew tenants lease?

[Ryan Savage]

I have a 3 bed 2 bath, 2 story single family on 1/2 acre lot that I purchased in 2015 and did a full rehab on. I have a current tenant in the home and the lease is up on 2/28, they are looking to extend for at least another 6 months if not another full year but I am not sure if I should renew if I am seriously considering selling. I came into REI with the intention of buy and hold but have discovered that being a landlord is not my passion. I would rather be doing fix and flips and the rehab work. Any advice on the renewal or the best path for selling an investment property?

[Leslie Pappas]

Hi @Ryan Savage, if you move forward with selling and decide to 1031 exchange to defer your capital gains taxes and no longer want to be a landlord, consider learning about Delaware Statutory Trusts (DSTs).

By reinvesting in 1031-qualified DSTs, you purchase ownership interest in multimillion dollar properties that offer long-term income - and eliminate the day-to-day hassles of property management. Whether your exchange is $100,000 or $1 million, DST investments can be sized to fit your exchange.