Advice on selling or renting my San Diego area condo when I relocate to Denver

[Jacob Munson]

I purchased my 2Bed/1Bath condo in Encinitas (North San Diego) in early 2021 for 435k (40k down) and with the market going crazy the past couple years it is realistically now worth approx 620k. I am looking to relocate to Denver in the next year or two and have been planning on turning the place into a long term rental. 

I'd like to hold onto the property long term as it's in a high appreciation area near the beach and rents in the area are high however cash flow would be minimal because of the mortage/HOA. I am building a savings to go out and buy future deals but would love to be able use some of that equity as well to help jump start my investing.

Wanted some thoughts on if it's best to hold on and hope to refinance/get cash out when rates go down or if in the long run it makes the most sense to sell and put all that equity to work elsewhere. Thanks in advance!

- Jake