Sell or rent, home is owned free and clear
Ok, here's the situation. I own a 3/2 free and clear in an up and coming hipster market. I had a tenant buyer in the place but he defaulted on the taxes. The only debt I have on the property is the 30k I had to pay in taxes, plus about 7k in rehab costs once he leaves (2 weeks.) The rehab is paint and carpet plus a bit of landscaping so not much at all.
The market is super hot still and I know I could get top dollar for it as a sale. (About 220-230k. Don't laugh, it's not San Francisco or New York! :) Rent should be around $2k per month but a range of 1800-2100 is what I'm looking at. Taxes are pretty high at 9k non homestead.
Would you:
A. Sell the property and use the funds to reinvest elsewhere
B. Rent the property and take out a heloc to fund more brrrrs
C. Rent the property and take out a 30 year fixed
I'm looking for a mix of cash flow and portfolio growth. I've got 4 years left in my w2 job before I retire.
Any thoughts would be welcomed!