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). 

I have had 3 people email me this weekend who are over leveraged and also cash strapped in that they have repairs of $5k or more, o cash to repair and without repairing cannot release unit.

I agree, start local and see if you can find anything that cash flows in your area—it's always easier to manage something close by when you're just starting out.

Cash flow has been hampered by an increase in cost of ownership recently, specifically insurance. 

With $100k down it’ll probably be slightly negative cash flow.

We would buy this house all cash. 

If you cash out equity in a property, you are "borrowing" that money from the lender.

Eventually whatever you will buy will cashflow and cash very nicely. 

This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

I already have proof of concept in Raleigh as Ive talked to multiple people (including the agent Im working with there) saying airbnb-ing rooms is a cash cow there.