Considerations for turning expensive home into rental

[Stephen Williams]

I am retiring from the military and currently have my home on the market north of Seattle for $775k.  Based on the estimated prices we have $300k in equity right now. The market for our range of home has just about come to a screeching halt and today we finally got an offer for $745k and I can tell how this is going they will be trying to pay less after possibly wasting our time in escrow.

We are currently on a 2.5% 30 year mortgage and the payment with Taxes and insurance is $2337.  A home 2 doors down is renting for $2950 that is 200 sq ft smaller and on a .86 acre lot while our home is on a 1.26 acre lot.

Now I know we have cash flow and it will be pretty nice as in close to $1,000 a month but I need to get some data from experienced investors to make sure I'm not missing anything.  I'm leaning more towards get out and take the money to Florida where we're moving rather than have one huge rental for the price of what can be 3-5 smaller properties or doors in a bigger property.

Just wondering what are some thoughts here.  Not really looking for suggestions but I have heard mixed feelings from some bigger names.  

David Greene always says invest where you feel comfortable investing and move on to other markets.

Jason Hartman has said it's doesn't make sense to have $775k invested in a single door.  $3500 in rent is steep for my area for a single family home and that is only a 5.4% gross return on %775k.

Others and even to mention Ken McElroy has mentioned this interest rate is hard to beat so he would be hard pressed to sell BUT...he was talking about primary residence not exactly an investment.  I do not see staying here as ideal for us.