Should i sell the current property or rent it out in Del Sur?

[Namal Burman]

Hi,

I stay in Del Sur in one of the townhome(2300 sq feet , 4 bed /3bath) and the property is in overlooking a canyon with killer views and i own the property. Bought the property from the builder at year 2013 and now have a great equity on it. I have a mortgage 30 year fixed at 2.5% currently for the townhome. We want to upgrade to a single Family within Del Sur( yes MelloRoos Sucks but kids goto nearby schools and don't want to move for atleast 7-10 years away from Del Sur) .The cost of the new home we want to purchase in Del Sur may go above >1.5 Million. Need guidance regarding :

1) Whether i should sell the current townhome and put the equity from the current townhome it for 20% down payment for the new home purchase and invest the rest of leftover ?

2) Rent out the current townhome and put 20% down payment( yes i have saved 20% down payment alongwith some emergency funds) for the new if found single family home in DelSur costing above >1.5M?

Also i own one 2bd/2bath rental  and maintain it myself in Mira Mesa so i have some experience as a landlord. So if i rent the second townhome i would have 2 property as rental while 3rd one will serve as primary residence.

Please comment as you folks have more experience and i would appreciate your feedback.

Thanks,

Namal