Rent or sell our current house

[Andrew Hartigan]

My wife and I are moving and are trying to decide whether to rent or sell.  We purchased the home 3 years ago and it is in the path of growth (assuming development continues).  It's a 4/2 1800sq ft that should sell quickly at $230,000 (we paid 210,000 and owe 140,000).  My thought process is to refinance on a 30 yr (currently on 15).  This will allow it to barely cash flow as it will rent for 1700/mo.  Part of me wants to keep as it will avoid closing costs , fees, etc. and should be a decent asset.  However, I do realize that this type of home is not a good buy from the get go as a real estate investment and perhaps the money tied up could be better utilized in some class b/c multi family properties.  Any feedback would be greatly appreciated.