As I said previously, rent it, sell it or live it. It all depends. It is RE, and location, location, location. If you don’t have a job or business in the area, rent it or sell it.

The even bigger thing is when was it given.

Either way, it’s a $300,000 windfall. It’s inheritance that smokes 99% of the population’s inheritances.

It is a silver spoon.

Do you know why? I’d sell it, take all but about $50K the proceeds pay my house down to a really low conforming loan and refi into a 15 yr fixed. I’d than make an extra principal payment while saving about $300/month for five years, then take the $50K rainy day money, along with another little rainy day pile and just pay it off. Provided I haven’t had great misfortune requiring me to hit the funds.

Again, I’m in OC, my business is in OC. Many people, live in OC. Hence, that little gem in Buena Park is reality for many. Just like the house in Escondido is reality in SD. The job markets are slightly different, commutes different, but economic realities are the same.