Depends on your Wants and Needs, I myself have Lease Properties and I will buy and sell them as well, it comes down to the Dollars and Cents. Though you will be out of town it does not mean that you are on your own.

As you have the option to hire a Property Management Company that will take care of the needs of the property, for a small percentage of the rental Payment. First we Start with a Rental Market Analysis to Establish if the rent will cover your Expenses after all this would be the first step to find out if it would be better to sale or lease. Right?

If so then we would Find and Qualify a Tenant for your Approval. Once the tenant has moved in then the work begins making sure that they pay on time, Collecting Penalties when late, getting repairs done when needed, Plumbing, A/C, Elec. Roof, fence and making inspections of properties to make sure they being taken care of. Lawns mowed pools maintained etc. also if tenant fails to pay and when push come to shove having them Vacate the premises willingly are by Eviction either way, No Pay No Stay! And if by chance something like this happens we just start the process again

Call me and I will be happy to discuss the choices you have with the property!

You should carefully consider the tax implications of each as well, renting verses selling. Selling in conjunction with a job relocation may allow you to save on capital gains regardless of the time spent in the home. If you were in the home more than two years, you may be able to rent it for up to 3 years and still save on capital gains if you follow tax rules properly. As a long term rental investment, with some exceptions, you will be taxed on capital gains when you sell.

Tax laws are changing rapidly for real estate investing right now so you should consult with a certified CPA specializing in Real Estate on what's best for your situation from a tax standpoint.

Bob,

You can try both at the same time. However. I would not let the value of the house be a determiner of if you decide to rent or sale. I would only rent if you really want to be a landlord and this is an overall part of your investment strategy. If it is not, you'll only have headaches. If it is you can be nicely rewarded. It may also depend on what you can get in rent vs the value of the house. I'd really want rent to be as close to $1200 or so if you can. Sure there are a few people that can pay more, but as you go much above $1200 you start to get out of the bread and butter of the rental market. If you rent, are you going to manage yourself or hire a property manager? If you hire a property manager, are you willing to give away about 10%/month of your rent for them to take care of it for you? Also you must calculate in vacancy rates....average 1-2 months a year right now? Can you handle two mortgages while it is vacant? I'd also say it is rare that renters will take care of your home the way you did, so be prepared if you are waiting for the market to come back to sell it, then you may need to budget for repairs to sell your place when you finish renting, paint & carepet are common. Perhaps yard work as well. Remember also it is typically easier to sell a home vacant than with tenants in it. Rarely are they ready to move, they don't keep it in show ready condition, they point out all the reasons buyers don't want to buy the home, they don't want a lockbox....and on and on.
I guess another option is will you ever come back to the house. For example is your company HDQ here and you're just taking a 2 or 3 year assignment away and will return? If that is the case, and you plan to return to the house that you left? That's an option.
Now if you are really into investments and want to build a real estate portfolio for your retirement, renting might be an option. You just have to look at the numbers of rent/return, see if it makes sense from a business standpoint.

Hi Bob,
If you are relocating with the same company for your job, would they consider buying you out?

The market has picked up a lot in McKinney and in Frisco over the last 2 weeks. There was even an article in the paper today about it.

I would suggest that you market your house for sale as well as for lease and that way you have the option and see what bites first. There may be someone interested in purchasing it after living in it a while.

I will be very happy to visit with you and give you a market analysis on your house.

Naima
214-289-8555
Naima@Sumner-Realty.com

I'd rent the home out as it's a hot rental market right now. Homes' values are okay but could be better. Depending on your situation, and tax bracket, a write off with rental property could be nice. However, Keeping the debt load on your income ratio could prove a problem with buying your next home. Lot's of considerations here... Feel free to give me a shout, we do loans as well so I may have more of a well rounded insight for you vs. just your average Realtor.