Rent, Sell or Leverage&Rent

[JaNae Anderson]

What would you do if you had a house that has $200k in equity and your looking to start investing in real estate? 

Option #1: Rent the property out for $2,500 a month, with a operating cost of $1,850? 

Option #2: Simply sell the property and walk away with $200k?         

Option#3: Leverage by using thw equity to buy a rental property while also renting the property out for $2,500 a month? 

[JaNae Anderson]

Sorry guys for not putting enough info, newbie mistake. The house is valued at $400k or even $410k and the remaining Loan amount is $200k. The operating expenses include PTI, HOA, Vacancies etc. $2,500 is the going rent at this time. This is a real situation that I'm trying to analyze. This home is located Vallejo, Ca (Bay Area) where it could continue to appreciate or it may have reached it peak, Not sure. @Greg S.

To all the questions asked @Brent Coombs I don't quite have all the answers yet but I would like to keep my next purchase between $100-$150k. As mentioned I'm a newbie seeking advice and suggestions. I appreciate the feedback. Please let me know if you guys need more info to help.