Should I sell or rent?

[Jon Bobbera]

Thank you all in advance for the advice. I currently own and am living in a condo in a ski town in Colorado. However, I am getting ready to move for work and am trying to decide if I should sell my condo or keep it and rent it out. I purchased the condo in 2016 for $355,000 and put roughly 34% down on the property and financed the rest at 3.5% for 30 years. The property is currently valued somewhere between $430K - $440K. Based on comps in the area, I am confident that I could rent it out for around $2,300/month. At this rate, I suspect that the property would only cash flow around $100/month after accounting for mortgage, HOA, property management, cap-ex, repairs, vacancy, taxes and insurance.

I am not sure if I should keep the property and allow it to continue to appreciate or if I would be better off selling it and using the money to fund higher cashing flowing deals in a lower priced market.  Another option I have considered, but am not really clear on how it works, is to keep the condo but pull out some of the increased equity to fund another house purchase.  Any advice would be much appreciated.