Homeowner looking to turn primary home into rental

[Matthew Pham]

I purchased this Houston area home back in 2018, and we are now looking to upgrade. Rather than selling the home, I have been weighing my options as to whether or not it would be a good idea to turn it into a rental. I am completely new to this and have never had a rental property so looking for some advice.

My current mortgage payment is $1850, but if I were to refinance, my payment would lower to just under $1600. Similar homes in my area have been renting for around $1800 a month. I understand that I have to factor in expenses and maintenance (home is relatively new though, 2012). Is the cashflow or lack thereof, worth the hassle of making this an investment property?

Tips and advice are much appreciated.