Should I keep or sell my home

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My wife and I bought a townhome we planned to rent out in a few years when we bought a sfr with a yard and white picket fence. However after running the numbers now that I am actually looking at it I'll be lucky to make -350 a month after pmi and hoa. So now comes the question of how long should we keep this place and how many upgrades should we do. I know this is really vague but just curious. After a little over a year and a half we have about $20k in equity. I live in southern California if that makes a difference.