Should I Sell Or Rent My Current Home?

[Jerad Miller]

Looking for insight on selling or renting my current residence. My wife and I have been wanting to start investing in rental property for awhile now but really need to move out of our current home and into one closer to our family (only about a half hour away). I have around 65k or so in equity in my current home. I'm thinking of doing a cash out refi for my down payment on my new home and turning my current residence into a rental. I've done the numbers and it seems like after all expenses it should cash flow at least $200.00 per month on the low end. Is this a smart move or should we just sell and get out of it?