Should I sell my home or rent it out?

[Jimmy Hung]

Hi,

I’m starting my Real Estate Journey where I’m currently reading books, watching webinars, and reading forums to increase my knowledge, and I’m trying to decide whether it’s better to sell my home or keep it as a rental. Here’s the info on home:

We purchased a new home for 700k about 5 years ago. The value is a little below 800k now. It’s 3bd 3ba, with ability to convert loft into a 4th bd rm. mortgage and taxes will be about $3050. Hoa is $100/mo.

The avg rental for similar properties is ~$3000, so without expenses, it doesn’t look like we’ll cash flow if any. Wanted to see if you guys think it would be better to sell, or rent.