Sell my townhome for "brrrr" cash OR make it my first rental???

[Jason Yamnitz]

Hello friends! I'm just getting started in my real estate investing career and I'm at a fork in the road. I own a townhome and I'm trying to decide if I should make it a rental or sell it. I've been reading these forums for years so I know this is the best place on Earth to go to for advice. You guys and gals are insanely smart. 

Property details: 2/2.5 Townhome. Desirable community. Well funded HOA. It's my current homestead (first home! and the only property I own)
Equity: ~50k (Market value 135k. I owe 82k.)
PITI + HOA fees: $800/month 
Rental potential: $1250/month
Market: Tampa, FL 

My newbie fork in the road..

1. Keep my townhome: Make it my first rental property. It will cashflow about $400/month (after I move out and lose my homestead exemption). Seems like solid solid cash flow to me (12-13% cap rate), but it also seems like all the wise investors steer clear of townhomes and condos. 
2. Sell my townhome: Take my 50k and sit on the sidelines for a year or two while the Tampa market gets softer. It seems like we've peaked in affordability and we're starting to see a lot of price drops in the MLS. Yay buyers market!!. I could also take my 50k starting BRRRR-ing.
   My thought process: The market has peaked (presumably). Prices will decline (presumably). Buy low sell hight right? I've lived in it for 2 of the last 5 years so I won't pay capital gains and I don't have to hurry into a new property via 1031 exchange. I've been obsessively digesting every real estate market headline, analysis chart, market outlook, and Case-Schiller index the internet can feed me and it seems certain that we're exiting the expansion phase of the real estate cycle. Maybe its the rookie in me, but heading into this phase of the real estate cycle with a bunch of cash to play with seems really appealing. But Jason, where would you live if you sold your property? Well I'm young(ish), single, heavily motivated by the bottom line, thrifty, and a hyper-frugal minimalist. Sooo... an Airstream of course! In fact I may enjoy it more than my townhome. It's like full time camping. 

It seems like Im in a win-win situation, but I'd like to know what YOU would do and WHY? I think I have a lot to learn for your experience and wisdom in analyzing my situation. 

My goal with investing in real estate (because I know you'll ask): 
2-4years: aquire 7-10 rental homes cashflowing $3000-3500/month. Then make the leap and leave my career forever! [Financialy Independence] 
4-7years - aquire a few more rentals and start doing some flips (becasue I really do love everything about it and Im like the perfect blend of Chip and Joanna Gaines. I grew up doing cabinetry and all types of home renovations)

Thanks a ton,
Jason

[John Warren]

@Jason Yamnitz $400  a month is not a bad thing. It all goes back to your goals, and it all goes back to how much equity you have producing that $4800 annually. If you have $50,000 in equity producing $4800 annually, I would leave well enough alone and not sell. If you have $250,000 in equity producing $4800 in cash flow, I would sell and re-deploy the capital.