Inherited House Louisiana

[John M.]

I just inherited a 1800 sq ft 2 bedroom 2 bath pier & beam house in a small town in Louisiana with a population of approximately 300 people.  I want to start investing in single family rentals but I am not sure if this is the town to do it in?  The house is in good shape and would need minimal repairs if I tried to rent it.  I am also toying with the idea of selling it.  How would I find the appropriate rent price for this house considering the minimal population and industry in this town and surrounding area?  I am located in Texas and would be dependent on a management company for my first rental.  All thoughts and ideas are welcome.  

[Andrew Johnson]

@John M. Just based on what you're saying, I'd sell.  It's a small town with 300 people so it doesn't sound like an area ripe for massive appreciation.  You can rent it out, use a property manager, but I can't imagine that in a town of 300 people there is someone that's local.  You could go to the nearest "large" city to find a property manager but you'll have to guard against your property being the 'red headed stepchild' of their portfolio.  If the property is 40 minutes away there's some element of out-of-sight, out-of-mind.  It's not "right" and you get quality service but I'd at least manage expectations around that.  If there is a PM that's really close, it's probably the only game in town so if it doesn't work out well...you're back to square zero.

Anyway, from what you're saying, I'd sell.  But what do I know...