This is a difficult decision. The first thing to consider is will the amount of money you will get for rent sufficient to cover your expenses. Your expenses will include more than your mortgage, it may include repairs and upgrades necessary to comply with state law. Who will find you a suitable tenant to rent your property? Who will screen this tenant? I real estate professional can assist you with this of course but it takes time to find a renter. Also, do you want to handle the management of the property on your own? You can address this issue by finding a property management company but those companies will cost money and will reduce your profits or increase your loss.
Lastly, have you thought of the financial issues pertaining to qualification for your new purchase? Do you need the money from your home to purchase your new home? If so, you won't be able to do this. Will the full mortgage amount be counted against you in qualifying for your new house?