Renting or selling my 1st house

[Dan Cerempei]

I'm in process of buying my 2nd property as my maine residence. Thinking to rent my 1st property. Just numbers don't really add up. So: 

1) 1200$ mortgage payment 

2 ) extra 100$ a month cause we are loosing homestead exemption (from 1400$ going up to 2600$)

3) Aditional 50$ for rental insurance a month

4) Property management 10% of 1600$ of expected rental amount = 160$

MATH IS : 1600-1200-100-50-160=90$

I know, i may loose money at the end of the year after repairs...But my view is to gain equity and market value gain,,, looking as a saving account/ retirement.

Option 2 is to sell it and profit 30k and maybe reinvest in a better rental oportunity.

Thanks for y'all answers. Exited to be a new member of the bigger pockets!!!

[Bryant Belden]

Ask yourself the questions "Would I buy this property as a rental if I didn't already own it?" and "Can I get a better return on the 30k tied up in this property through a different property or investment?" 

I hope this helps!