Sell or rent property?

[Tim G.]

Hello BP!

I have owned my SFH for about 3 years now and want to actually start my real estate investing career by purchasing a MFH and "house hacking" it to break even or turn a profit. This seems to be the most logical way to break into investing since I would be using an FHA to purchase the property and then refinancing out of it when the proper LTV is reached to move on to another. My question is should I consider renting my SFH or should I just sell it? We love the home but if I can cut our living expenses by $10K/year I will gladly do it and SO is on board. Based on my area and property, it would cashflow roughly $200-300/month after vacancy etc. On the other hand we have about $25-30K of equity at this point. Any other factors I should be considering?