Relocating - Should I Rent or Sell

[Daniel Ramos]

Hello Everyone! 

So I have an interesting situation.  I am currently a home owner which is undergoing relocation for work.  I am moving from Miami, FL to Jupiter, FL.  

Current Property has market value of Approx 480k. and is PAID OFF.  I am thinking I should be able to rent out for about 3000 and have monthly expenses of 1300, so a cash flow of about 1700. 

I am getting into a new mortgage on a new property, and am expecting Mortgage/Tax/Insurance ~3500 per month.  I am contemplating if I should rent my original home   and use the cash flow to help pay mortgage or sell and pay off my new home, or very close to all and decrease the burden of Interest on my new purchase.

My relocation has some benefits: No Seller fees on home sale.  If home sells for 480 I get a check for 480 (no comisson or anything etc.)  I can get a Primary Residence tax break too.