Should I rent or sell my property?

[Alvis Jenkins]

Hello Everyone,

My wife and I are trying to decide the best option. We own a townhouse in Elkridge, MD in a very nice community but we need to buy a new house due to a growing family. We can rent out our house for a $600 profit monthly or we can sell listing at $265K with an existing mortgage $200K. We want to own rental properties anyway but are wondering if we should just sell and take the lump some for our next house. What would you do?