Sell primary upon move, or hold and rent?

[Jeremy Ashford]

I bought this house in 2013 for $144,000 at 3.625% over 15 years. I put 20% down, thinking I'd be staying in it for longer. It could probably rent for $1200 right now or sell for around $160,000. My balance on the first mortgage is currently around $98,000.

I'm in a situation where I'll be moving 4 states away in November and I want to start investing using the BRRR strategy after the move. If I sell the house, I'll have around $65,000 to start. If I refinance it at 30 years and rent it out, I'll have around $35,000 to start and a cash flow of $300-$400 from this house, not taking refi fees into account. I also have access to 30K credit at 12% from a credit card which I would probably use to rehab.

I'm considering keeping it because it's on a 1 acre lot in an area with a lot of luxury houses being built(350K to 430K). It's also within walking distance to a top rated school. It's value doesn't seem to be in any danger of going down anytime soon. There's the speculative aspect: the house is on septic now, but if it becomes possible to tie in to the public sewer, the lot could possibly be subdivided according to zoning laws, after which half the lot could be sold for a nice sum. I would guess $50,000.

This house will be one of the smallest and cheapest in this school district to buy or rent. Finding buyers or great tenants won't be a problem. It would be less stressful on me to sell, but keeping it shouldn't be much trouble either.

Is there an obvious best course to take that I'm missing, or does it just come down to personal preference?