Keep my first home to rent out or sell.

[Joseph Grullon]

We are looking to purchase a home as our family is growing.

Should we sell our first property which is a condo, in order to complete a 20% home down payment? 

Or keep as a rental? But take out a mortgage with a 5 or 10% down payment instead.

The condo would cash flow approx $400/month, based on current rents.

Purchased for $190k and comps are currently around $265k.

[Joseph Grullon]

@Abel Curiel I really appreciate your response. I am leaning towards renting out the property for the reasons you have already mentioned. Building passive-income definitely is a priority of mine. I have lived in this condo for 7 years and it has been very easy to maintain. But my girls are growing, so it's time to move into a bigger home. I think I will be making the right decision by keeping this property as a rental. Thanks again!