Above all, be realistic about the costs and revenues of renting out. Beginning landlords usually underestimate costs and overestimate rents. They especially ignor fix-up costs, vacancy periods, opportunity cost of your equity, and the notorious Tenant-From-Hell.
On the other hand, I am optimistic about San Diego’s housing prices over the next couple of years, unlike you. So the appreciation of your old house may nicely offset the possible losses on renting out a SFH.
