[Landlord US-TX] Is renting your SFH worth it?
We recently moved and our previous residence has been on the market, but is not selling. We are retired and about 3 1/2 hours from our house that we are selling. We are now considering renting it out.
I would not use a management company. We have very, very good neighbors so we would be able to have someone close to check if needed. We are in a hurricane prone area so hurricane prep is a concern.
We replaced the carpet and painted throughout getting it ready to sell. In the last 5 years, new hot water heater, new hvac, new appliances. So these would depreciate if we ended up selling down the road.
I know there are chances of getting a lemon of a renter. But, if we could rent it out to decent renters (nice neighborhood in a good school district), what are the pros and cons of renting? Do you find it is financially worth it with wear and tear on the property? Is this a good way to generate income—I don’t want a huge headache for a break even?