Selling primarily residence for investment property

[Hunter Montez]

Hey BP family !

So me and my wife are considering selling our primary residence due to my neighborhood market being red HOT right now. Homes are selling within 1 week to 2 weeks tops over here and doesn't seem to be slowing down anytime soon. Now just a little background.

We purchased this home back in 2018 for 191k and currently owe about 180k. As of this week verifying on multiple real estate websites its appraisal is just under 285k ! Now that isn't a bad idea to sell considering we bought more home then we needed to begin with. Rent in the area for an identical house goes for about $1600 a month which for me would be only $300 cash flow a month if I decided to go that route. (Which I am not in favor of)

So maybe some of you more experienced investors out there have some spare time to give me your feedback I would take any suggestions and start planning our next steps.

What would you do in this situation?

Thank you to everyone in advance !