How to determine if I should rent out/sell condo

[Dan Taylor]

Hey everyone. My wife and I are looking to move out of our condo (we live in south suburbs of Chicago) and into a new house. After talking to our lender and realtor I realized that I can take a loan out against my 401k and use that as the down payment on our new house. Because of this we don’t necessarily have to sell our condo to come up with down payment money. Real estate investment has always been an interest of mine but something I thought was 5-10 years down the line.

The condo is located in the south suburbs of Chicago. 2 beds 2 baths. 1200 sqft.

I basically have no idea what I should/shouldn’t do and would love any kind of advice to help!