Sell as-is OR improve and sell
I have a duplex I am selling that has low cashflow and a ton of equity. The rising property value has increased the taxes to the point where it is eating a lot of my cashflow. I cannot sell it as-is to a conventional buyer currently because it is a duplex in a single family zone. I am now in a situation where I would make much more selling than collecting the measley cashflow.
The property is a duplex and is rented out until February 2019. So I have 2 options:
1. Sell fully occupied property now in as-is condition. Its in decent condition. I have a cash offer for $125k and bought it at $105k. This sale would allow me to pay off a mortgage on another property and increase my cashflow.
2. Wait until February 2019 for leases to expire. Do rehab on house, convert back to single family and bring it up to level of rapidly rising neighborhood. Similar houses fully rehabbed are going for $200k-$325k.
Thoughts?