Rent or Sell Primary

[Burns Mulhearn]

My wife and I are moving back to our hometown and purchased a house. I need advice on what to do with current house. Should i sell or rent? We have lived in it for over 2 years. I owe 146k on mtg and pay 1094 a month escrowed. The house is worth 300-325k. I can rent it for 1800 a month. I do not have plans to move back. 

My questions is should I sell now and realize equity without capital gains. Or turn into long term rental. My wife is medical field and I am business for self so i really don't need the right offs. I would love to get your feedback and hear what you would do. Thank you. 

[Brett Russell]

@Burns Mulhearn , I think you simply need to ask yourself 2 questions:

1) Do I want to get involved with real estate investing/buy and hold?  If no, then sell.  If yes, go to #2.

2) Can I put the money to better work elsewhere?  If yes, then sell and put it to work there.  

Another question to consider is: "would I buy the house today to rent it?"  Probably not at the current value you describe, you can probably find better buy and hold deals elsewhere.  And depending on how far you are moving, remember long distance landlording can create added hassles and/or expenses.