Got new job and need to move. Sell or Rent?

[Derek Fitzpatrick]

I live in California, and just learned I'll be relocating out of state. I'm about $100k positive in equity on my home as of now.

My first instinct is to sell, but here are some other thoughts I have towards renting:

1) Great house. Low taxes, new roof just put on not long ago. Great privacy. Not too much emotionally attached but its a good area with good schools.

2) Cost of re-entry. I got this house at the low point. There is a chance we could come back to California, albeit I'm not sure if it would be to the same city. I'm afraid 5-10 years down the line that barrier to re-entry will be significantly high.

3) Most of the appreciation has happened in the last year and a half. It seems to have slowed and slightly stalled, but future looks positive for equity growth imo.

The biggest drawback is the property does NOT cash flow. I am negative about $100 each month after factoring in capex, maintenance, property management, vacancy, RE taxes, insurance, and mortgage. This property will also need to be refinanced with additional monies put in to get the lower $100 number.

So with that being said, are there other things that I should be considering that would offset this loss? Tax deductions? Potential rent increases in the years to come?

If you were in my shoes and you stood to loose about $1.2 to $2k a year on renting, would you still consider doing it given the points above?