I get $3200 in rent for a condo that I have $3600 monthly costs on (mortgage, property taxes, HOA fees). Although I put in $400, I make about $1400 a month in equity (15 year mortgage). Property is worth about $470k and I have $200k in equity. Make sense to keep or sell?

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Logic says either refi or sell, but it really depends on your goals with the property / investment. Are you keeping it for appreciation and as an effective savings account, or would you rather have cash flow?

Your numbers also ignore maintenance, capex, turnover, and any other non-recurring costs.

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Thank you for your insights! I didn’t know about cap gain exemption will look into it.

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