Try to sell or Rent?
Hello all! I am currently stuck in a sticky situation! I am 22 years old and currently active duty Navy stationed in Georgia. I will be separating in the next few weeks and moving back home to go to school. When I first got stationed here (March 2016) I was expecting to be here for at least 2 years, but do to my orders I will be separating in July. I bought a house using a VA Home Loan because in the end it was cheaper than renting. Therefore I bought the house for $112,000 which came out to $114,000 VA Loan. My mortgage payment is $725 which includes my insurance. We got news very sudden that I'd be separating (about 3 weeks ago) so we threw the house on the market. As you can tell I've only owned the house for a year. My wife doesn't want to have to rent it out but we can't afford to make the mortgage payment for very long if it doesn't sell. We'll be mov my 1,200 miles away back to Texas. So for this being my possible first deal, it's not really what I wanted being that I'll be 1,200 miles away. If we were to rent it out we'd have to rent it for $1,095(near top market rent). Accounting for 10% PM, 10% Vacancy, 5% Repairs I,d come out with about $95 positive cash flow. So I guess my question is, does anyone have any advice on if this would be a good deal? Or one that a newbie investor should do? I hope this all makes since. Thanks in advance.