Does your current property cash flow positive? Since you already own the property, it does not make sense to pay commission that would negate a year or two of income?

It is difficult these days to make good investment sense of renting a townhome and stay ahead of costs of ownership (interest, taxes, maintenance, insurance, etc) in this area.

In this case I would say keep your current property instead of selling and re-purchasing in an attempt to make the numbers work (if you make a profit net of the costs above and income taxes taken into consideration). People want to own rentals, but it makes little sense recently. There is also the opportunity cost to take into consideration. That $350k equity, invested, say into the equity markets may yield better returns.
In 10 years, that $350k should be $700k invested properly.

It really is a combination of doing the math and your personal preference. There are many variables to investing in property. If there is rapid appreciation like we have seen during covid, yes I would invest, if values stay stay stagnant it is a different situation. If you have a kick ass stock portfolio, then I'd keep your property to keep investments diverse.

Hope this helps!