With long term rentals (or any house aside from a flip), you are unlikely to make money off the sale of the home if you have only owned it for 2 years after you pay the realtors and other fees.

Also look on Loopnet for any similar type rentals, sq ft, NNN, lease terms, $ sq ft, etc. 

My options are:Sell: Maximize down payment in NC, reduce debt.HELOC+Rent: Keep NJ property as an investment, rent for potential $3,300/month.I'm interested in long-term wealth building.

Even looking at the balanced rate (which I feel like is hard because the terms are different) along with the potential to have the monthly payment/fees covered, it feels like a cash out is a better option if we did want to keep this.Part of the current struggle is that the market was hit harder from the rate increase so sales are almost at a standstill and even with trying to sell the house, the rental market is doing substantially better because most military cannot afford to purchase in this area as the payments are over 6k/mo for buying vs 3-4k/mo for renting.Any advice is most appreciated!

What are the loan terms? 

We're not sure if moving out of state would be long term or if we would return after a year.

@Claudio Garcia Zuniga, there are so many aspects that I can highlight, but long story short, renting the home will be way less of a hassle than rent-by-the-room; however, your return will not be as significant.

Term 3-5 years.Can anyone advise me as to terms I should offer (interest rate, points, fees etc) and anything else I should be looking for to make this loan?  

Spoke with two new PM's and will be moving over my properties to one of the two in the short term.  

I focus on long term appreciation plays.