Seeking Guidance on Scenario: Keep, Sell, or Grow

[Ron Z.]

Hello Everyone, 

I am new to BiggerPockets and was recommended by a colleague at work to check out this community. Within this community, I am seeking the guidance of experienced Real Estate Investors that can share their perspective on my scenario. I recognize the guidance is not advice and completely respect everyone's opinion so please know that I appreciate your comments and time. 

My wife and I are lucky to be expecting a baby which is motivating my research on this scenario. We also are financially secure and have flexibility with which path is chosen. I am questioning the pros and cons to different paths which may align to your experiences in guiding.

Background:

I reside in Douglassville, PA and own a rental property (Condo) in West Chester, PA.
Condo is in an HOA which manages all external elements so I am responsible for inside of the condo.
The rental property is a 2 Bed/1 Bath, that I bought at Market Value: $137k (Cost Basis: $140k) in 2016.
Current Market Value is median at $180k based on comparables. I have not appraised the property.

After-tax profit for Tax-Year 2020 was aprx $3k Cash and $3k towards equity. 
Calendar Year 2021: Current rental is $1500 per month with expenses at $1090 per month. 
Currently have a mortgage at 3.625% with 78% LTV (109k aprx owed).

Tenant is a blessing (Great relationship and maintains the condo) and is with me for the 2021 calendar year.
My father is gifted with mechanical and contractor work and is able to help me with managing the property. 

Have sufficient cash set aside for emergencies (HVAC and Windows are original from 1970s)
All appliances are up to date and new Pergo flooring. 

Scenarios:

Keep:
Tenant is with me for the calendar year. I am lucky to have her stay with me. If she stays longer term, I plan to keep rental income as is unless adjustments are necessary due to rising costs. She goes back and forth about buying a property after the lease is up. If she decides to move out, I will need to find a tenant (Most likely will use an agent I worked with in the past to handle screening and pay accordingly).

Sell:
Tenant and I have briefly discussed working out a private transaction. Tenant is fully aware of my concerns with the property (HVAC and Windows) and is satisfied with the overall health of the Condo. We will make our own determinations to evaluate the market value and come to a fair price.

I need to research how to properly utilize a transfer company and draft a contract that legally binds us to the transaction so no fall-out may occur after the sale is complete.

Grow:
Given my scenario, I question if pursuing an additional rental property makes sense. I have learned about certain strategies but seem to be having a hard time putting all of the pieces together and logically processing if I am in a position to grow. Frankly, I am a novice but would like to learn more and potentially pursue more opportunities.

Thank you again for the time, I hope you have a nice day.