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Potentially an out of state landlord - should I sell?

Hello All,

I find myself as an unexpected landlord, as I purchased a 2 bedroom townhome in Central Florida last July (intended to be a primary residence) as I was working remote. Unfortunately I and others were laid off in March of this year. I moved out of the home, and was able to secure new employment in Phoenix, where I rent an apartment and am today.

Note - I only put down 5% when I purchased, so I have little to no equity.

That said, I cannot continue to carry both a mortgage and rent. My realtor I used to buy the home said if I try to rent it, I will likely have a $400-500 net negative cashflow in the first two years. If I try to sell it, I will potentially break even, minus seller paid closing costs.

While I love the area I purchased in, I do not have interest in being an out of state landlord, and could see myself staying on the sideline from owning real estate for a year or two.

What would you suggest I do?

submitted by /u/JungleJim408
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source https://www.reddit.com/r/RealEstate/comments/13vref9/potentially_an_out_of_state_landlord_should_i_sell/
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