Need ideas, Trying to decide sell or rent my resindence

[Maurice Mugabo]

Hi BiggerPoketers, I am thinking of moving my family to a bigger residence, on the other hand, I have been on bigger pocket for a while and my goal is to get the knowledge and

get ready to be a landlord. I am thinking of taking this opportunity and start by renting my current home instead of selling it. Here is the situation:

- Currently owns a town home 3 bed 2.5 bath, 1,677 sqft, year built 2008.

- it is worth $245-250K.

- Mortgage balance $177K.

- FHA 30 year fixed, rate at 3.75%.

- Monthly payment $1,224: Includes Mortgage&Interest, Taxes&Insurance, and $80/month PMI that will be taken off within the next 12 months.

- Definitily A-type neibourhood with 10/10 schools all around.

- There is also a high HOA, $170/month.

If I decide to rent it out, the expected rent in the area is $1650-$1700, it is in a pretty good shape and no upgrades needed, hard wood floor, granite counter top, it's all there, I don't expect heavy maintenance in the neat future.

Let me know what you think, is renting it a good idea? With the numbers, there is nothing much left as positive cash flow, but on one side I think it might be a good idea to sell it

and in the near future start looking on the other side of town for properties that are in areas with many renters and look for better cash on cash return, on the other side, I currently have a very

young family (2 very young babies), can't really find enough time for a more aged property that will need time for maintenance/finding contractors etc... So I am considering this to be my safe/quite entry into the business.

Thank you.....