Appreciate the responses. Given our loan amount, a conservative rent value, hoa fees, prop management companyvfee, and taxes, we would come out ahead about $50 a month.
My question was more directed at whether I should sell given a short sale came on the market at about half as much as the last unit sold for two months ago. I’m thinking that even if the asking price was bid up 50%, it would still be below what we purchased our unit for. So the chances seem slim that after the short sale sells, we could sell our unit for the amount we paid for it. I guess we could try and put it on the market and see what happens…you never know. But since we’d be coming out on top if we were to rent it out, then it seems to make more sense to hold on to it.
