Renting is always a gamble. First and foremost you have to find a renter who will A) Pay the rent on time, B) Care for your property and C) Maintain good relations with your neighbors. If you are able to satisfy these requirements, then the financial implication come to bear.
Biggy: CAPITOL GAINS TAX = If you sell later and DID NOT occupy the premises, you may have some tax disadvantages. CONSULT YOUR ACCOUNTANT.
Is your ROI high enough? Determine what your property is worth on the market. Is your NET (after expenses) income higher than the interest you could earn on the value of the home invested. Don't forget to consider your responsibility as Landlord (Midnight calls if heat fails, repair that leak, etc) IS IT WORTH IT? Only YOU can determine that! GOOD LUCK... more