Moving out of state.. Keep current house as rental or sell

[Jarrett Mitchell]

So my wife and i are at a crossroads.  She has been offered a job in the Atlanta market, and my job has the potential to transfer.  Problem is, we've only been in our house for a year in the Nashville Market.  We bought it with the intent to use it as a rental one day, but that was supposed to be a five year plan, and that plan has changed. We've done a lot of renovations, but the house still needs some work, and we still have debt that we are working to pay off from the house, and now we have moving expenses as well.

According to a realtor that we spoke to, we could sell the house for about a $25k profit, mostly as-is and move on, or we could put another $5k into it to get it rent ready.  Based on local rent rates, i could cash flow ~$500 per month before management fees and expenses.  Considering that we have about $21k in debt tied into this house (discovered BP just recently), I'm not sure what I should do here.  We fully intend on purchasing rentals at some point, and we already have this one now.

Should we sell and start over with a clean financial slate, or should we endure and try to maintain this as out of state owners?  I want to make the best decision for long term gain, but I don't think I have enough information.

Please help.  Thanks BP