Renting out My House

[Connor Loutsch]

I would like to rent out my current house that I am living in this coming spring. I have owned the house for 4 years. I owe 168,000 on it and I had it appraised this summer for 205,000. 

My questions are:

Should I refinance the home and take the equity? And charge rent on the new loan?

And how much should I charge rent?

Im a greenhorn to all of this and would like to start investing in houses. Thank you!