Rent out vs selling my house

[Pradyumna Vanam]

I am moving so I either need to rent out my current home or sell it. I have decided to rent kn the new location to which I will move for an year. Does renting out my current home makes sense or selling it in this hot market? What are the things I should evaluate. I think if I refinance my home It will help cashflow wise since the market is up now.

Following are more details:

I own 226k on my current home.

I am sure it will be appraised for 340k.

The rents in my area is about 1800. So i can easily make a cashflow of 500$ after i refinance. Am I missing anything here or anything I should be thinking? Is it a wise decision to rent vs sell?

[Eric James]

You're not going to spend only $1300/month on that house. There will be vacancy, maintenance, cap ex.... With rent around 0.5% of value that isn't a good rental property.