I’m kinda dealing with a similar situation but in reverse, I have a couple of outside CA rentals (one in TX and one in NC) and I’m on the edge of BK’ing them away. I think the downturn has been around long enough that people are starting to think of missed opportunities vs. getting out while you can. I can only imagine how pissed I’d be at myself for selling in 98 like the previous poster, but that is hindsight and the unknown future is really unknown. My NC house was bought for 137k in late 05, comps showed 150k in December 08 before the BofA layoffs. It’s a 250 a month neg. So far I’ve had no renter nighmares but there’s always that anxiety of getting a call about something expensive. Non money issues like Stress/complexity are also factors to consider.
I guess I’m trying to say it’s a gamble either way, and I have to agree with carlsbadworker whatever you choose hindsight will cleverly hide the bad and exaggerate the good so you will regret it. Not sure if that helped…
