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House won’t sell… worried about renting

Bought a 0 HOA 2bd 2bt no parking townhome in Seattle for 600k cash two years ago. Starting hating Seattle after almost 10 years and left recently. Am fully employed in new location but now pay rent.

Well, the house has been on the market over two months, listed at 670 and now reduced to 640. My lease ends here in a month and I’m going to either have to go back (really don’t want to - I like it here and my job) or rent it out because I figure that’s better than a 60-70k loss on the home.

Never been a landlord before and am looking at property managers. It terrifies me and have seen some people say repairs were so bad they made no money on rent. My expenses will be 1700 (~1900 after fees and utilities) of rent and incoming money will be 2600 @ job per month + potentially 3000 in rent (2600 after management fees).

Stupid idea?? Go back to the house? I’m really stressed out by the whole situation.

submitted by /u/veriohukainen
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/wtsaob/house_wont_sell_worried_about_renting/
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