Sell house or rent it?

I've working in property management in Alabama for 4 years (so I'm a little prejudiced :-) If the house is new and in a good neighborhood, you can check with local property management firms on your options. If the rental market there is saturated (lots of new houses for rent at good prices) and not moving good, then you may want to consider selling. If the market is not saturated, you may consider renting, but make sure the rent is above your mortgage payment (for obvious reasons) and for any expenses there may be.

Property Management firms can handle everything for you(Here we charge 8 - 10% of the monthly rent for our fee) -yearly tax accounting, business license, rental taxes (quarterly or yearly), qualifying tenants (back ground/credit checks), etc. But if you do it yourself, check with your local city/state laws to make sure you have all your ducks in a row (rental agreements/business license/etc.)

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That's a tough call. Can you sell it without coming out of pocket to close? Will have to go the short sale route? Can you sleep at night with a tenant in the place or will you worry too much about potential lost rents, damage, vacancy, etc...? Here in Fort Worth, the sales market is not that strong, but the rental market is pretty good. I have 3 rentals here and have been blessed with pretty good tenants. I stay on top of it though. Long distance management is a drag. If it's too much for you, sell it. Otherwise, consider a professionally managed rental.

Renting is an option. However, in the long run you may loose more money, with repairs and other things Home Owners coveer. I would lower the price a little more and see if anyone bittes. That way you dont have to deal with tenants who dont pay rent and may ruin your prperty. ( Worse case senario of course!)

Rent To Own Homes - http://renttoownhome.uzaev.com/?nTlh

sounds like you're going to have to firesale the place. rent may be able to offest your expenses somewhat, but not completely. just drop the price a good bit below anything else out there and just get stuck with the loss.