Should I sell or hold and rent?

[Craig W.]

We bought 1.5yr ago on the south shore of Boston. Purchase was a 355k 2/1 1200sf .3 acre single family fixer up 25min from downtown Boston. We have put approximately 50k into it including new kitchen, new bath, new windows, new paint, new lighting, plumbing work, new deck, moved driveway to side street. At this point we are ready to move on from living here. We just had our first child and find the road to be too fast and the house to be a little too small. Essentially we are into the house for 405k and I believe it could fetch that if we we’re lucky. Take out commission and we would be losing money. The idea has come to mind to rent it out and continue on down the road looking for a better buy. I have toyed with this, but I would be completely new to the landlord side of it. My mortgage is $1650 all in and I believe it could fetch at least 2100$ for rent if not more. We would in the meantime I assume rent a place and continue to save and get setup to buy again. Any advice on this?