the fact that you’d be $1300 in the hole renting it out tells you all you need to know: your house is currently eggregiously overvalued.
even assuming that some level of lunacy remains after the bottom falls out of the rotting foundation of this housing market, your home would only be worth $250K-$275K on a cashflow basis. my bet is that that’s where the price is headed over the next five years unless rents increase dramatically in your area or rates come down substantially. remember: pigs get fed, hogs get slaughtered.
