Newsflash: Rent out or Sell inherited property??

Me and my sister had a house left to us in the Florida keys. Was left to us in 2008. I lived in it from ’08-’12. Rented it to Friends from 2012-2014. It’s vacant at the moment and it needs some work. There’s wood paneling that has been eaten up by termites and the roof needs to be redone. Other than that the house is in good condition. It’s a 3 bedroom/2 bath with a walk in laundry room. Big back yard and front yard as well. I’ve had ppl willing to rent it paying up to $3000 a month but we don’t feel right doing so with the roofs condition (there’s leaks) we pay property taxes yearly costing $2500. My sister is 27 and I’m 34. It’s our childhood home and we grew up in it. We live 4 hours away from the home and can’t keep an eye on it like we want to.My sister wants to sell, I kind of want to rent it out. Problem is we have no money to do the work that needs done on it. I had a friend suggest we get a second mortgage on the home or a loan to get the work done in it then hire a property manager and rent it out. My sister says sell it as is but she’s open to renting it out as well. But it’s not her first choice, she wants to be done with it. Need some advice! Oh and the house is paid off. No mortgage on the home for the past 9 years.We don’t know what to do? I know being a landlord can be a lot of work!



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