Moved. Rent, Sell, Buy?

[Jason White]

Please weigh in with thoughts on how you might evaluate and determine a way forward with the situation outlined below:

•  Own old home (expected net equity upon sale < $5K)
• Moved into rental home 3 hrs. away (Plan to keep renting in new location for time being as moving in less than 5 yrs. is a possibility and I don't think I can qualify for two mortgages)
• Would like to treat property as long term investment for cash flow if possible but at a minimum would just like to be gaining equity in something.

Thank you