$300k looking for advice to cashflow

[Scott Schuetz]

I have a townhome near the beach, no mortgage and would sell today for $300-315k. It's currently rented at $1950 per month, taxes are $2900 per year, HOA is $3108 and insurance is $850. As you can see, I'm not making much of a return. It was originally purchased to be owner occupied but we've purchased and moved into another home.

I have some ideas, but I'd love to hear your thoughts on how to either use the equity or sell and reinvest into other properties or strategies that could produce cashflow. Ideally I'd love to net $4-5k per month.