Rent to Own an Alligator Raeford, NC

[William Ayres]

I am new to real estate investing, but I have been renting a rental property since 2008 that does not produce a large amount of cash flow. Here is how it breaks down:

Yearly Gross Rent: $12,600
Mortgage/Ins/Tax: $9,816
Vacancy: $630
Repairs: $378
NOI: $1,776

Since I have owned the property for a while I have about $44k in equity. I also just paid $6,000 for new laminate flooring, which seemed to help me raise the rent monthly rent from $950 to $1,050 per month. I was thinking about trying to sell it rent to own. I figured this would do three things for me. First, I could potentially have a renter for three years with no vacancies. Second, I would not have to pay the property manager. Lastly, I would potentially not have to pay for repairs. My main question is this a good situation as is? Or should I try to sell it for a rent to own deal?

Thank for any advice in advance.

Troy

[Michaela G.]

I clicked on this wanting to know all about the new business of lease-optioning alligators......;-).....was trying to figure out the angle....