Do I proceed with continuing to rent it out and sell later, or sell now?

So most agents are only putting about half of that $12k in their pocket, and out of that $6k they have to cover all of their operating expenses: licensing fees, MLS/ Realtor Association fees, continuing education classes to stay compliant with licensing requirements, monthly "desk" fees/ technology fees to their brokerage, health insurance for themselves and their family, errors and omissions insurance (required), marketing, car, car insurance, gas, clothes, computer/ software, cell phone, closing gifts, signs, photography, staging if they offer that, etc.

Here are thoughts on building strong vendor relationships:1.Timely Payments: Pay vendors promptly upon completion of work to maintain goodwill and encourage continued collaboration.2.Fair Pricing: Negotiate competitive rates without undercutting the value of their services.

Or is it better to capture all the rental income while continuing to pay my current rent at $500/month?

They are still at a discount to the 10 year treasury bond (i.e. market trends indicate they will continue to escalate).

It was a good moneymaker for me and I would love to continue short term renting.

Seems like a liability as long as you continue to own this property.  

Been slowly rehabbing my own primary residence and debating if I myself would want to rent it out or continue living in it.

I’ll keep you updated as I continue my search but good luck!!

When you do a 1031 exchange, the next property you buy continues down the same depreciating term.