Sell or rent out?

My husband and I bought a new house (fixer upper on 15 acres) about a year ago. We did not sell our former primary home first. We had some updates we wanted to make, and a lot of work on our new place. We’ve been working on both houses, but the time has come to do something with our first house. We have gone back and forth on selling it or renting it out…thus paying down more of the mortgage. We still owe around $140k and could probably sell it between $200-220k. My husband is leaning toward selling. I would like to just rent it out. Our mortgage payment including taxes and insurance is $915 a month, and the house will rent from $1500-1700. Which would be better in the long run…sell it or rent it out?

submitted by /u/misspontmercy
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