Newbie landlord here

[Julie Asmussen]

I currently own a 4 bed 2.5 bath house.  I need to move and was thinking of renting it out rather than selling.  Comps say I could sell it at $575k. It is completely  renovated. There’s $120k left on our 15 yr mortgage which is 2.75%. Was thinking of doing a Heloc to take out $100k to buy our next house.  Payment on old house is $800 / month mortgage and $1200 mth in taxes.  Does it make sense to rent out my old house or sell?  

[Julie Asmussen]

I forgot to mention.  I contacted a property manager and based on comps they think they can rent it out for $4000/ month.   Still a good idea to rent it out?  Property mgr wants 1 mth to place a renter in it and $100/ mth to manage property.