Newsflash: Should I sell my home or continue to rent it out?

Cross post from another thread, sorry….just looking to get some collective answers.I’ll try to keep this as short and as painless as possible. Just a brief backstory, I am an unemployed 29 year old single male who is currently going to school full time for nursing. I have about a year and a half left in my curriculum now and I first purchased my house when I was working full time close to 6 years ago for 118k. I no longer live in the city where the house is in but I live about 140 miles away and as of now…I have absolutely no plans to return to that city upon my graduation, in fact my plan is to either get a job where I currently reside or move out of the state entirely, I am not really sure yet. I am not working now and I am currently supporting myself through the combination of savings that were pent up, financial aid and loans (another story all on its own), and when I decided to move it was a very quick move so I did not have a lot of time to decide on what to do with my house. In a rather hasty decision, I enlisted the help of a property management group to quickly rent the house out so I at least did not have to worry about the mortgage while I was unemployed. My mortgage month to month is about 854/mo (taxes/insurance included) and I have a home warranty policy that is about 50/mo on top of that and I also pay a landscaper to go to the house once every 2 months to maintain the property for $80. The house is currently being rented for 1100/mo and the management company takes about 10% of that for fees every month.Needless to say, my experience thus far with renting the house out has been rocky to say the least. I was not prepared for it mentally and I have now realized that even though I have a property management company handling most of the grunt work, it still takes a lot of my time and I have to set aside a certain amount of cash per month as an emergency fund to be used in case something goes wrong with the house (and boy have things gone wrong with the house). At this point, I am just kind of…physically and mentally over the idea of being a homeowner and at this stage in my life I don’t think it makes any sense for me to be one or to worry about it, it honestly seems like a big financial cloud over my head right now.The good news is that my house is worth roughly about 150k right now, and I owe about 79k. My property manager is also a real estate agent, and I was told that average home prices around that area sell for roughly 150k but that I should list it for mid 160s at first.I guess my question is, would it make sense to sell my house now and pocket the profit (I plan on taking about 20k out of whatever I get from the house and investing/saving the rest for use at a later time), or do I continue renting the house out to this tenant? The pros of continuing to rent it out is that someone else is basically paying my mortgage, and the tenant appears to be taking care of the home, but the cons are…the upkeep of the house, the fact that I am still ultimately financially responsible for its maintenance (the roof will need to be redone within the month), the fact that I do not see myself returning to this city, and that I could use the equity to support myself until I graduate and invest the rest. The tenant is locked into a lease until September I believe, so I am not sure if I can even do anything before then but I have already contacted my agent in regards to that. I really just don’t want to be stuck in a position where I have to pay both the mortgage to this house and my rent while it is on the market, so I am trying to time it in a way where the house would ideally sell before the lease expires.Thanks for reading all, and if there’s anything I missed, please let me know and I will answer.



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