Conundrum - Sell it vs Rent it

[Red Badger]

5/17/2018: Retired a second time, this time from my volunteer Admin duties. After 10 years of being on the team, and 40,000+ posts, the time just seemed right. It has been such fun to work with all of our Mods and Admins and I plan to stick around as a regular member.
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Congrats W2R!!!
Thanks for your contributions to this awesome forum! I've been a freeloader here for a little over a year. My sincere thanks to the admins and mods here; and a special one to the +40K champ!

 

[haha]

A property will cost you X to keep it functional and operational. Lets say utilities, insurance, management, taxes, and enough repairs to keep the cost-basis level from year to year.

This bolded statement is a little hard for me to understand. If the cash outflows are expenses, they decrease current year net. If they are capital investments, they increase basis. I realize that these are to some extent terms of art, but still, you characterize them as operating expenses, or as capital improvements. This decision determines whether they are expenses, or added to basis, unless an auditor later decides differently.

Ha

 

[W2R]

5/17/2018: Retired a second time, this time from my volunteer Admin duties. After 10 years of being on the team, and 40,000+ posts, the time just seemed right. It has been such fun to work with all of our Mods and Admins and I plan to stick around as a regular member.
___________________________________________________________
Congrats W2R!!!
Thanks for your contributions to this awesome forum! I've been a freeloader here for a little over a year. My sincere thanks to the admins and mods here; and a special one to the +40K champ!

Thank you! And thanks to everyone who has been PMing me about it too.

So far I am having fun being a regular member. We have a great group of members here at the ER Forum and I like the discussions here.

Each and every one of our admins and mods are such terrific people. They all work hard to keep things civil and harmonious, by making sure that our Community Rules are followed by everyone.

Sorry for getting off topic! Back to sell vs rent, the more I think about it the less I would want to rent. I think it would become an albatross at some point, especially if I was traveling a lot and not likely to be living close by.

 

[38Chevy454]

I agree, sell it and then invest the money. Use the invested money for some nice extras during the year. As you said, it is not needed to live on. Being a landlord form a distance will just be more worry and headache than you want to deal with.


I do like the idea to sell and reinvest into a lock-and-go condo type place for your home base, if you want to maintain roots and residence in the area.