Is this rental a good deal?
I have a rental house in the west coast that I've had for almost 15 years, purchased for $150K and now estimated at about $350k. Rent is about $1800/mo and the place has been continuously rented all that time, with me managing it myself until we moved to the midwest a few years back. Taxes are about $3k and I pay about $1k a year for management fees.
I've started buying property locally and wonder if it's time to let go of the property and reinvest it here. I hate to let it go because it's in a high demand area with top rated schools and lots of large house new construction nearby helped drive up the prices, but I don't think the income is that great for what the property is worth now. The only other benefit is I can possibly write off a trip there because I can say it's business, but I don't even have a good reason to fly there anymore.
Wondering if I should keep it or not.