| I meant to add one thing...since you inherited this and are not paying a mortgage I presume. My thoughts would be to rent it with the least hassle to myself. Take probably a third of what it rents for and sock that away for repairs and maintenance. Take a third for yourself (or to pay off remodeling bills if required) and put a third in an investment.
Oh, and don't forget property taxes and insurance.
Might be a good thing to talk to a local investment counselor/attorney to find your tax liability and expectations over the years __________________
Vic
I'm no expert, but don't tell my wife that. |