To keep renting or sell

[Anthony Reyes]

I have a property that I have been renting out for about 6 years. The mortgage is $830 a month and I rent it our for $1850 per month. There is about 250k in equity. I am having to evict the current tenant for non payments for the past 3 months and my property management company is merging with a different one because of health reasons of my current one. Do you all think it would be wise to keep renting with the healthy profit or sell and wait to see what the real estate market does? Im leaning towards keeping it rented because of the low mortgage. Just wanted any other insight. 

[Thomas Korbos]

If I were in your position, I would personally take an equity loan out of the property and use it towards an investment property that needs some rehab work done, to expand my portfolio and bring in more cash flow.