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Reply to "Inherited parent's home. Rent or sell."
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[quote=Anonymous]SELL. I was a landlord in a poorish area. I was lucky to rent mostly to friends who I trusted, but lots of times I left the unit unrented because the quality of applicants was not good. You can deduct taxes when you are a landlord but if you sell, the tax burden can be high. There is a 1 percent rule that I read about. If the home is worth 150k you should be collecting 1500 in rent or it's not worth it. I am so glad I sold my place. [/quote]
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