Updated about 5 years ago on . Most recent reply
Rent inherited house or Sell and buy?
I am new to bigger pockets. I have recently purchased a house for my parents. They are covering 70% of the mortgage and covering all of the repairs and utilities. In exchange they are giving me their old house. It is 3 hours away in a poor market. The market that I live in is hot. I am wondering if I should rent that house out or sell and buy in my market. The house is worth 90k. It could rent for 850 without paying utilities. I could sell and purchase 2 houses were I am in. Rent would be about 1500 and mortgage about 1000. What are your thoughts on what I should do?