Reply to Should I sell my house or rent it out?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It's so easy to rent it out with a management company. They will find a renter and take care of all repairs. Even after the repairs and their fees, you will make net prob more than a low interest mortgage payment on it. In Reston you'll get good renters. A lot of military and other people who don't plan to settle in this area need sfh rentals near good schools. Talk to a management company, and you'll be surprised at how profitable it can be.[/quote]

Yes, Reston is a nice area. And no doubt it's a prime location for good renters. But rentals in the DC area rarely have cash flow of more than a couple hundred bucks a month, even if purchased 20 years ago. I know because I own several. And management companies border on being useless. Nobody knows your property better than you, and nobody will care for your property better than you. [/quote]

THIS^^^
When I live in a property, I notice small issues before they become big issues.  Rarely will your renters do this.  That means the minor plumbing issue that I would have fixed for $1K before there was any extra damages will likely be over $5K with drywall, painting and other damages besides the plumbing because it became a major issue.

I know too many people who have regretted renting and lost money.  DOn't know anyone who actually made more money than they would have by investing.

Also, you loose the capital gains deduction if you dont sell within the time frame.  Not worth it IMO
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