Considering renting out current house

[Ashley Collins]

Hi everybody,

My husband is military and we currently own our home in Knoxville (purchased for $450k, we owe about $300,000 with 2.6% interest on 15 year loan). The market in Knoxville seems to be pretty strong and my husband saw an estimate that in ten years our home could be worth around $900k. I’m not sure where he got that. He wants to rent it because of  that estimate even though we would be losing money every month because our mortgage payment is $2700. Based on what I’m reading (2% rule, 50% rule), and the cost of property management companies; it seems better to just sell it for its current value of $550k and invest the equity. We need to make a decision soon because we move in June. Some important information:

-A large bank is planning to open 10 locations here in Knoxville 

-Buying at our next location is not an option due to high prices.

-I should add that his military BAH would cover the cost of whatever we rent at our next location and I can cover our current mortgage with my monthly income. 

Any experienced investors have thoughts on this? Should we risk renting or just sell?

Thanks so much, Ashley