My SO and I have an investment property in Houston, Texas (in a good neighborhood with good school district) while we live in a completely different state with a much higher COL. We purchased the home as an investment property with no intentions of ever living there. We purchased in January of 2020 but the pool has been causing a lot of issues. The purchase price was about $220,000 with monthly rent at about $1,600 but we’ve sank about $30,000 in fixing and remodeling the pool already. We use a property manager that takes about 10% of monthly rent.
I really want to just sell the house right now for various reason including the property being higher maintenance than I thought it would be. Is it a terrible idea to sell right now in the Houston suburb area? I know the usual recommendation is to keep the property for at least 5 years to recoup the closing cost. Beyond that, is the market itself a good enough time to sell in Houston that I won’t be losing too much from selling earlier than the recommended 5 year?