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I purchased a home for $250,000 100% financed. With all my monthly
expenses and offset by rent, I'm negative $500/month or $6,000 per
year. The property shot up in value just after I purchased it and it
appraised for $310,000. So I've $60,000 in appreciation.
Is there any reason to keep this property? The way I see it I'm eating
into my potential profit $6,000 per year. Should I sell it? If I wait
366 days to sell will it be just a flat 15% long term cap gains tax?
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negative cash flow / should i sell?
