Should i refinance and rent out, or sell
Over the summer I’ve been working on a house to flip and sell this will be my 3rd one to do in 3 years. Since everything is basically brand new. Plumbing, electrical, flooring, and a new kitchen. I’m considering keeping this one as a rental but I’m not sure how to do it.
I bought the house for $35,000 and have put in about $17,000 in renovations. It’s an 1100 sqft 2 bed 1 bath. If i were to put in on the market i can probably get 115,000-125,000 for it.
A 50k payday seems pretty good but i could also rent it and get $1,100 a month for it. Total expenses for the house are only $535 a month. It would be my first rental so I’m scared of that but also extra monthly income sounds just as good as a lump sum $50k
What are your opinions on renting vs selling it?