Should I sell or rent my house?

[Sam Harover]

I moved to South Georgia last year for my job. It all happened within a month and I purchased a 4 bed 3 bath house with a big yard in a good neighborhood for $177,000. I pay a monthly mortgage of $1,070 on my house.

There have been some changes in my job and I am likely moving back home (Lexington, KY) in the next 3-months. That puts the ownership of my house to 15-months. 

I'm trying to decide if I should sell or rent my current house (I plan on renting a place in Lexington for a year while I can get settled and make a smart decision on buying again). I am planning on reaching out to some investors in the area to se what I could rent the houes for in this area. I would expect that nothing would cashflow that great, but maybe well enough I could just hold on to the house for a few years and sell it for a slight gain later. 

Or I could try to sell it right now, but I'm not sure what I could get for it. I think I'd have to sell it for at least $195,000 to break even and I don't think there's any chance of that happening.

Does anyone have any advice? I did not plan on moving so quickly, but am trying to make the best of a tough situation. 

[Jake Ernst]

@Sam Harover I think it's a good idea to see what you could rent the property out for, then from there make a decision. If you can rent it out to where the cash flow is enough that it breaks even with the mortgage and expenses then I would keep it as a rental. Then you could keep it awhile until there is enough equity to sell it for a profit or when you look to buy in Kentucky. I would not keep it as a rental if it is going to cost you money each month. Sometimes the best thing to do is to know when to cut your losses.