Convert 1st primary home into a rental property or sell it

[Shanaya Harris]

Hello! I'm new to the real estate investing game in the Charlotte area and I could benefit from having advice from more seasoned investors. I bought my first condo as a primary home 9 years ago for 109k with the goal of turning it into a rental property. Today the value is at 135k and I have 84k left on the mortgage. My PITI, including HOA is $800 monthly. Similar units in my complex is renting for $1200 but I could get more rental income due to current upgrades that I have.

My goal is to start building my real estate portfolio by using the BRRR strategy to buy a few single family homes in the short term and then gradually invest in multi family properties long term. However, I want to make sure that I make an informed decision with my condo. Should I convert my condo into a rental property? Should I sell it? Also, regardless of renting the condo or selling it, I need to buy another primary residence to live in as well.

All suggestions are welcomed! Thank in advance for your advice!