Accidental landlord not cash flowing
Hello I am an accidental landlord need advice on how to proceed. I bought a house as a primary residence and rented a room to a friend. Ended up moving into my girlfriend's place and had a friend of the previous friend also move in. I am collecting 900 dollars a month which I originally thought was great. They are paying the majority of my mortgage/tax/insurance (1,056 a month). Now after finding BP I realize I am negative cash flowing. Market research has shown I could possibly rent for about 1400-1500 a month, I bought the property for 111,000 now worth conservative 140,000. My question is now should I sell the property and try to find a property closer to the 2% rule, or find tenants that could afford the average market rate?
Thanks, Derek.