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Reply to "Sell or rent out starter home?"
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[quote=Anonymous][quote=Anonymous]I disagree with almost everyone here. I am not sure why you wouldn't keep it. You'd clear alot in rent and have the equity even if you sell in 5-10 years. Build up a sizable fund for repairs or gaps in renters. There are tax implications to the rental income, but we kept our first house because we were under water and it has been a great investment over time. We make money and build equity. It was recently redone so there have been minor repairs, but that is it. We've also had good renters. [/quote] Your key point is that you were "under water" and I would have done the same. Op has a sizable gain which will be tax free. Try placing yourself in OP situation, not yours....not the same at all.[/quote]
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