Rent Primary or Sale Primary

[Hughston Thackham]

Hello all, I am brand new to Real Estate Investing and I am in a situation that I believe could be promising. I would like to hear further opinions. Currently, I am paying $942/month w/ $232 of that going towards my principal. The interest rate is 3.375%. The home is a 2 bedroom/1bath - 816 square foot home. The home has a newer roofer (7 years old), New Furnace (2 years old), Newer Windows, and New Electrical. We currently owe $113,000 and if sold today, we could sell it for $185,000.  The home could (hopefully) rent b/t $1300 and $1500 a month. 

So, now I am trying to think through what would be the best decision for my family. Would it be smart for us to sale our primary, take the equity, buy our family home, then begin saving to buy our first rental property? Would it be smart for us save 10% to 15% percent for our new primary, then rent out this house. Or lastly, save money for new family home, take some equity out to put towards our down payment towards our family home, and then rent out the house? Or are there options that I haven't thought of that you could share?

Please let me know your thoughts. I am eager to begin investing, but I want to make sure I am making the right decision to assure my family remains financially stable. 

Thank you everyone. 

[Nathan Gesner]

Quote from @Hughston Thackham:

People see their equity and start to salivate. Think of all the things you can do with that money!

The truth is, most people will squander it. The best thing you can do for your future is leave it right where it is. Don't sell a property unless you have a solid plan to invest that money in a property that will produce better results or move you closer to your goals. I suspect you don't have any goals, which is why it's difficult to give you advice.

I recommend you keep it as a rental. You can buy a primary with just 5% down, so it's much easier to get into a new primary than it is to buy a new investment.