Keep or sell investment for primary residence?

[Jason Rowlett]

I own a condo in Silicon Valley worth about $300-325k. I owe $130k on the mortgage. I currently rent it out for $1650/mo and profit $250/mo. I now live in Austin, TX, and need to purchase a primary residence for my wife and I. 

I want to keep my condo and leverage it into other investments to grow my portfolio. But I am also tempted to sell it to purchase a primary residence. However, I don't want to "mortgage the house" to pursue my dream of being a full-time RE investor later on.

Am I killing my chances to become a full time RE investor later on by putting my investment into a primary residence? Should I hang on to it and save for down payment on my personal home?