First real estate deal

[Matthew Figueroa]

Hello everyone. I currently own a home that I bought for $214,900 @ 3.625% 30yr loan in Dec 2017 using a VA loan. I currently owe about $211,000 on the property since its been in my hands under a year. I've recently gotten a promotion at work and found out the job I'm working for is moving to a new location. I've decided to move closer to the job so my commute will drop dramatically (which is about 100+ miles from me now to the new site). I thought I should look at all my options before I made a decision. I had a realtor come over and do a market analysis on my home and it came back at $225-235k. After seeing the fees for closing (6% commision), I decided to look at renting my home and moving instead. I discovered rent to own at this time and after a day or so, I found a renter that would rent my house for $1,500 a month that passed all checks (credit, background, income etc...). My current mortgage is $1,355 a month.

Now I'm sort of stuck on where to go from here. Once I rent this house out, I have been looking into renting a condo in the Orlando area. I feel as though I should refinance the house after the renter moves in to collect a higher yield of the rent and to get my VA Home loan back to use for another property. I want to use a hard money lender to locate another home to use as a rental. I've been listening to the BP podcast for some time now and I feel comfortable with that leap. However I'm unsure on the current home I'm at now. Whether I should sell or rent to own? Is this something I should form an LLC to refinance the home to for liability? Any guidance would be much appreciated. I'm also looking for a mentor around the Central Florida area if possible!