Rental conversion former primary residence

[Shawn S.]

I have one bedroom one bath condo in Los Angeles county. Purchased 3 years ago for $232k, I have about $22k into it (including the 5% downpayment).  The current loan balance is $206k and its appraising now at $300k. 
I might be able to rent it for $1,800 per month which would net about $45 a month.  I've never been a landlord.  Debating on trying it or selling and taking the proceeds to a turnkey out of state.  Any feedback or similar experience would be much appreciated.