Renting Primary Residence

[Samir T.]

Hello everyone, Im still very new to real estate and wanted to get your thoughts on the following:

Currently I have a primary residence . It’s a 15 year loan and the payment is $1950. I could probably rent it out for about $2300 to $2500.

I’m also looking to relocate and wondering what everyone’s thoughts are on keeping and renting it as opposed to selling it. The caveat is that I won’t be able to do 20% down on the new residence and will have to pay for mortgage insurance. I’d probably do a conventional loan and put down 5%.

Has anyone done something similar? Is there anything else that I should consider?

Thanks!