Should I sell it or rent it?
I bought a property with the intent of rehabbing it and then renting it. I also knew I had another exit strategy of selling if need be. The market is so crazy that I'm considering selling now. Here are the numbers:
I could sell and profit $75K to $90K after buying, selling, and rehab costs but before taxes. I would also get my deposit back as well, $32K. Hopefully I'd be able to flip that money into another property (tax free? I'll have to educate myself on that real quick)
or
Rent at about $850 cash flow a month. (considering everything is new including heater, AC, appliances, bathrooms, kitchen, etc I don't think I would have capital expenditures any time soon). That being said, I would be banking this money anyway as I don't need it nor do I just want to spend it.
or
Put a renter in there and sell in a little less than a year. With certain risks including the housing market cooling off a little or a lot
Opinions? Advantages or disadvantages of either of those strategies?
Thanks,
Joe