What to do with vacation condo?

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Hello! We have a vacation condo with $150K in equity and appreciating nicely. It is about 1.5 hours away. We would be able to rent it out for at least $1500/mo. Cost of mortgage, HOA and insurance is $1300/mo.

Would you:

1) Rent it out.

2) Sell it and buy a rental house closer to home to manage.

3) Sell it and buy a few condos closer to home to manage.

We could on $250K in mortgages on new properties and be able cover the payments with no rental income.

Thanks for helping out a newbie!  Any advice is greatly appreciated.