All of the above are great points.
I really think you need to lay out all of financials and the timing around money coming in.
There’s really no way a $1.4 million sale where you clear maybe $1.2 is going to be a worse situation than putting money into it to rent, and only for likely 3+ months a year at high rates. As the poster above mentions having $1.2 million now or in the near term give you quite a bit of financial flexibility to fund upcoming college expenses, as well as living expenses for your parents. You will never earn enough in rental to overcome that amount of money in the near term.
|