I agree with these guys but even if it just breaks even, you'll still be reaping the tax benefits as well as the appreciation which, even in this poor market, the Lake Norman area is still getting.

I agree with Todd. Cash flow is king. But make sure the cash flow is worth the risk. If you are only just covering the mortgage payment, sell. With the costs of upkeep and occassional vacancy, you need to have an actual profit. You could also refinance the mortgage and try for a lower payment prior to renting.
Good luck!

Big question is, if you decide to rent it out, will it cash flow? Meaning will it sustain itself, pay mortgage and other costs with just the rent, no cash in from you.

If it will, I'd strongly consider renting (oh, there are headaches) it out, and then potentially selling in a stronger market.