Need some advice on renting home or selling

[Scott Sweeney]

I own a home with 140,000 equity and I'm trying to decide if I should continue to rent it or sell and use the cash to buy another property.  The home cash flows $550 after the mortgage is paid.  My next scenario i'm thinking about is buying a home in the Columbus ohio area and renting it out.  The thought of having a paid off home in Columbus is appealing i'm just not sure being a long distant owner is for me.  I've understand the 1031 exchange process and I've identified a good realtor/property management company in Columbus to help manage the property.  

Just looking for some advice or any other ideas on what I should do.