Suggestions and ideas for primary residence

[Anthony Colachicco]

Looking for some feedback and suggestions on what to do. 
My wife and I had help from her father with a down payment on our first home (primary residence) 3 years ago. He basically made us do a 15yr mortgage and we got a 2.1% rate. We now have $150k in equity and would like to move across the state. We’d love to just keep this home as our first rental property but feel stuck with the high monthly payment due to the 15yr mortgage and the home needing some renovations in the next few years. 
Any thoughts on what to do and the smartest way for us to start doing some investing from this? Thanks