Should I sell my home or rent it out?

[Timothy VanMeter]

I currently own a 3 bdr 1.5 bath home in the suburbs. It's close to all the major things within our city and is in a safe neighborhood. It was built in 1980 but over the last 5 years I've replaced everything (roof, furnace, ac, siding, gutters, doors, windows, etc.) The house is basically brand new. I still owe $75k but the house is worth $140k. I want to get into investing in real estate but am not sure of what course to take. I don't have a lot of cash reserves other than the equity in my home. Do I try and purchase another home and rent mine out? Should I sell mine and use the capital from it to purchase more properties? I can't possibly be the only person that has been in this position. Looking for advice and pros/cons of both decisions. Thanks