Should I rent or sell my home?

[Mike Cruz]

Hi everyone. I want to know what I should do.

Bought my home for $312k. Values in the neighborhood are btwn $490k-515k. We owe aprox $235k with a balloon payment at the end of $57k. (We had a hardship modification about 6yrs ago)

Current mortgage is $1800 and we have family members that say they would rent my house for $2300. I would pocket that money for upgrades or repairs or even put it towards the mortgage to get it paid off faster.

We would be moving out of state and staying with family members rent free for at least a year til we buy another house or decide the move wasnt for us and we can move back to our original home. Were torn on the issue because we like the idea of having passive income and having property that we can possibly pass on to our kids to get them started on building wealth or buying their own home if they want to sell our house. Pls advise on how you would navigate this.