Is this a stupid idea?

[Jordan Shay]

The big question: Should I rent my primary residence, or should I sell it after a few years and use the money to then purchase investment properties?

Here is my situation: Just built my primary residence (3bed, 2bath) in 2016 in Noblesville, Indiana. The area is growing rapidly, I would consider it a B+ neighborhood with around 7-8% appreciation annually the past few years. I owe 151k on the loan, and the home is valued at 162k. This is the only property I own.  Its also important to know that I just had a bankruptcy discharge in December 2017 which is going to make it more difficult for me to get financing moving forward. Im not sure what the best strategy is and I am very open to all suggestions. 

Thought is to rent out the current property but I would only cash flow about $85/month. I could potentially get a HELOC 2-3 years from now and use that to purchase the next property but thats if I could get approved.

I appreciate any suggestions or opinions here. 

[Linda S.]

@Jordan Shay,

If you sold it, you'll pay be lucky to break even, don't forget commissions/taxes/fees.    If you rent it, where are personally moving to,  since the bankruptcy will make it really hard to  get someone to rent or sell to you.   Your best option IMO is to stay put!