Debating on my first rental

[Brendan Done]

My wife and I recently put money down on a new construction. We are looking to refinance our current home to pull out equity for the down payment and then keep as a rental. Based on the market we believe we can make close to $700 on rent. We are not risk takers and the thought to just sell and put all equity on the new home is appealing as well. Seeking any advice for this timid landlord.