• ODT Gun Show & Swap Meet - May 4, 2024! - Click here for info

Big financial decision I want to be smart and need real advice.

Sell it . You can sell it now without paying capital gains tax if you make it a rental you will pay capital gains tax and tax on the recaptured depreciation when you do sell. You need 10-15 rentals if you want to play that game I did it for 30 years and only have two left. If you are not made out of stainless steel renters will eat you alive.
 
Sellllllll. I had 3 rentals and am glad to be rid of them
Agreed , I was kinda in the same shape as OP with our first home. It was an all brick with metal roof and such; so I know the maint would be low But then I talked to a friend that had several rentals about how hard it is to find decent renters . He's since sold out and has some joy in is life haha. This was in 2000 and you know a lots changed since then
 
If you rent be ready to replace floors, walls, paint, etc. between renters . Good Luck either way
And window screens. For some damn reason. Went to replace some screens on a rental and found a broken window pane. Lady asked me not to fix it. Why?.. she says that she likes to dip a little snuff and that's where I stand and do my ironing.
 
Back
Top Bottom