New to REI, Turning my home into a Rental

[Kelly Williams]

Hello
I am new here. I have read through the forums for some time and finally decided to sign up. I have some questions. I understand this topic may have been covered but I was hoping to start a discussion on my specific situation.
I have been wanting to enter the REI field for quite some time and I may have come across a way to do this. I bought a home for $215,000 2 years ago with an FHA loan and paid no closing costs. I got a great deal on the place, along with a great mortgage rate. Due to my current family situation, we are planning on moving across the country next year. I am debating turning my house into a rental as apposed to selling when we move. Here are my reasons for wanting to do this. I bought at a great time for my part of the city. Home values are skyrocketing. The neighborhood began going through gentrification when we bought. Homes on my block are all being fixed up, and younger wealthier families are moving in. My realtor says we could list our home today for $260,000. Speculation looks like this will continue to increase. I would hate to leave the market before the home has reached its full potential. So here are the numbers.

Paid $215,000
Value $260,000
Mortgage $ 1400 (this includes PMI, taxes, etc.)
Rent Price $1600

I realize the number do not look great, but I am looking more for the investment, not cash flow. The rental price has been difficult to calculate due to the lack of rentals in my area. Rental vacancies are at an all time low in Denver. Also keep in mind, my PMI will go away about 2 years after I move decreasing the monthly payments by $200. Also, I do not need to sell to be able to buy a new house when we move. We have the opportunity to get a private loan from a family member for $0 down and the minimum rate at about 2.6%.

Thanks in advance for any input you may have.

K