Sell or rent?

[Lyndsey Keller]

Long story short, we've had our house for sale for over 6 months with no offers and very few viewings. But we've had a lot of interest in wanting to rent it. Our contract with our realtor is now up. Should we reduce the price and try to sell ourselves (no realtor commission now) or try a run at renting? I've been doing some research the past few days. I would be handling all the paperwork, showing, screening, etc, while my husband would be the handyman (if needed).

The more I learn about renting the more intrigued I am. I could see how if one could properly manage a property with right tenants, you could grow a business from it. It's "my" kind of work. Working from home, managing it all, while checks come in (in a perfect world, right?).

My husband was a very big NO to renting at first. Now that we still own this house, he's opened his mind some. How hard is it going to be to do this the right way and not get screwed? How much time should I spend researching (drawing up leases, checking state laws, etc)

Opinions?