Sell @ $15,000 loss or rent it?

[Jordan Slater]

4 months ago I purchased a $195,000 new construction home. I put approx. $40,000 down. I have now taken a opportunity to live rent and expense free at an apartment complex as a Courtesy Police Officer. I am interested in buying rentals. With my recent education in real estate investing (thanks BP!) I now recognize that the new house is not a good cash flow property to rent and hinders wealth buikding. If I sell now, my realtor says I will lose approx. $15,000 of my equity. I want to use the equity and the debt I have in the house to purchase cash flowing rentals but If I rent it for a while I can get more equity out of it. What should I do?