@Jordan Miller - I think to give proper guidance it would be good to share more details on the revenues and expenses on the property.

IF you plan on going back someday, and this is the home you want to move back to, then renting it would be a good idea as long as you estimate that it will cover itself, or preferably, cash flow, which it appears that yours will at @ $2K or so per month (after expenses). 

Utilities for the Rented HouseDeductible as a rental expense from when the property was placed in service (ready to rent).

Low risk property. 

Now the situation has occurred that we need to rent the house out in order to help pay for his long term care expenses. 

Low taxes, low crime, low homelessness, friendly people, all 4 seasons, etc!

So if your investing that full $200,000 getting that kind of return and you currently have almost no monthly expenses I would advise you to double down on what your doing and let it ride for as long as you can.

Maybe I'm no longer a low risk bond investor, maybe I'm parking my money in $VOO instead, CRE REITs, or perhaps higher risk higher return bonds. 

I would stay out of really rough areas in expensive cities because those are risky and can be management headaches.

Not the cheapest 25% or the most expensive 25% but I’m the middle, where people want to and can afford to live.