Rent or sell in Colorado

[Kerry O'Kelly]

Hi everyone! I have been reading and learning about rentals for a while now, but never acted on anything. However, my husband will probably take a job in Houston, TX soon so I am trying to figure out if it is worth renting or selling the house. 

It was purchased for 221K in 2012 and value seems to be about 4K now, with 150K owed. It is a story with 2 bedrooms and 2.5 baths in Highlands Ranch, CO. Rent would be around 2K a month. Another question is, would is make a huge difference to convert the loft into a 3rd bedroom  before renting or selling

Please let me know your thoughts and experiences with renting vs. selling. Thank you in advance.