I need help deciding if I should keep my primary residence and rent it out or sell it and then move into a new one, I have already done a cash out refi of 60k if we rent it we would get 150-250/ month profit not counting cap ex and if we sold we could get 5k-20k property is worth 250-280 ARV , the property has brand new roof hvac and hardwood floors with in the last year or two we will also be using va loan to buy. ps my wife wants to sell and I want to rent it out 

The cure to these high interest rates is high cap rates, or higher down.

Many investors overpaid over the last few years relying on these figures as it greatly impacted the cap rate/cash flow analysis utilized.

Cap rates are pretty useless.

Currently in San Diego, MF can go up CPI + 5%, capped at 10%.  

Compare that to low cap expenses of a new build and any higher rent rate associated with the new build as well as any anticipated higher appreciation and run your numbers over a 5-10 year period.New construction may cost more upfront but may make more sense with an extended timeline.

Let's say your seller bought the condo for $75,000 back in 1993, and today it's worth $300,000 - completely fictitious numbers - but go with it...Where I live (in Florida) there is a cap on how much the government can raise your property taxes a year... it's like 3.5% a year of the assessed value.  

Appraisers will take into account the amount of rents and also the local cap rate when determining value.  

With this type of structure, as soon as you are done with the work completed, you submit the budget for the purpose of rationalizing the massive increase in value in a short period of time rather than leveraging it in an LTC calculation that will cap your cash out proceeds.

Washoe County on the NV side is pretty lightly regulated with no cap or density restrictions on STR permits.