SDR makes some good points. I would add the following:
1. In weighing the rent-it-out scenario, be sure to consider ALL of the costs of being a landlord. Factors often ignored or underestimated: vacancy periods, fixup costs between tenants, value of your own time, tenant hassles, and the opportunity cost of your equity are just a few. You get no economies of scale in just running one rental house, and there is a painful learning curve if you have not done it before.
2. Interest rates have just dipped noticeably, and possibly not for long.
3. Price trends are falling for the forseeable future, as most here will attest.
