Renting Out a Property You Already Live In

[Fabienne Ulysse]

I bought a home as a primary residence last year in FL.  I am planning on moving out of state in about another year and was wondering if it would be a good idea to rent out the current property when I leave.  Since I already own it, how would I analyze using the rental properties tool?  Is it necessary to use it at this point or is there another tool I should be using?  Should my cash flow determine if I go about renting?  Would building my equity be enough even without a large amount of cash flow?  Should I just sell it?

I’m new to this so constructive criticism is welcome.