Should I sell or buy and rent?

[Matt Cramer]

I have a house I purchased on a lease purchase agreement which I'm able to assign. (ie I can sell it and keep the profit)

I have it for $137,500. The market is about $150k-$160k it would take about $5k in upgrades to reach that $160k mark and it may still only be $155k. Tough market to get exact numbers as it's pretty rural. 

I could buy it and rent it out, downside is I'm moving 2.5 hrs away and wouldn't be by here to often. I could also put the 5k in and hope for the top of the market. Or I could sell as is and get $145k or better and walk away and buy my next one. 

What are your thoughts?