Rent or sale and new location

[Chris Steinman]

I currently own a 1 bed 1 bath single-family house as my primary residence. Purchased in 2015 for $57k seller financed. I renovated it down to the studs. New kitchen and bathroom. I refinanced it into a  5% 30-year mortgage with a local bank as the seller would only carry the loan for a year. I took out about $10K to help with renovations. Payments $492 (interest, tax, insurance) currently owe $51K. It is a 600-square-foot quonset hut sitting on 10 acres that is under 2 miles from a 750-acre lake. The 10 acres are about 90% planted pine (the previous owner planted it). The kitchen, living room, and bedroom are one room, the laundry and bathroom are together. I purchased this before deciding to get in to real estate.

I am trying to decide if I should rent the property out or sale it to buy something with long term investment in mind. Not sure what the property is currently worth. Before bigger pockets moved the rent estimator to pro users only it estimated rent to be around $975 I don't know or have anything to go by but I thought that was high. Maybe I am undervaluing my property? Zillow seems to think it should rent for $723 and Redfin says $670

My real estate goal is primary for long term hold. I would like for the properties to cash flow but have no intentions of living off of the cash flow. I want the cash flow to cover any expenses the property may have.

With my next property I am trying to figure out what state/town to go to. I plan to live in it and then rent it out in a year.  I just lost my job a few days ago, the reason for picking any state nothing tying me down to this area. I work in the technology field as a windows systems admin. My current town/county does not have much work.

Sorry for the long post, and thank you in advance for any input/comments.