My advice is to not sell your place. You’ve locked in your “rent” for as long as you want to stay there. Since you “could pay off the entire mortgage tomorrow” if you needed to you have plenty of other assets to ride out job losses, equity losses, etc. What would you do with the proceeds, anyway ?

I would consider powayseller’s outline of the price low a worst-than-worst-case scenario. Here’s why :
If the place would currently rent for 15K/year and the price dropped to 125K in 5 years. Assuming rents were flat over those 5 years, the property would yield 12% cash-on-cash. That’s ridiculous in today’s interest rate environment and would only make sense if rates were in the 10% range (for competing income investments). If rates are up in the 10% range, then that would mean inflation is much higher than current and that rents would be rising (with inflation) and not flat.

If rates were in the 10% range you could take your external funds (that you “could” pay off the mortgage tomorrow with)and pay the mortgage with interest from a CD or other instrument, with some money left over to buy bread and water.

You are in “way under your head.” Stay the course.

The only fly in the ointment IMO is that when the time is right to buy a SFR, you won’t be able to get much out of your condo (condos leave the party early and arrive late as powayseller alluded), so you may have to rent it out for a couple years after you buy your SFR at future discount prices.

Plus, if we are wrong about a price plunge and values flatten out at 10-15% below peak prices you’ll do OK in that scenario as well. It’s about surviving/thriving across a range of unpredictable future scenarios. Your combination of low-rate loan, assets outside your property, and current monthly cost benefit versus renting puts you in position to survive and/or thrive in most reasonable scenarios.