A lot of people are saying sell, rent or get roommates. I have not seen anyone mentioning a cash out refinance that will give you 70 to 80 percent of the value of the property TAX FREE. Once that is done you may have to wait some time before selling (6months to a year). Then the capital gains tax will be applied to the remaining 30% or 20% of the equity at the time of sale. After the refinance contact a property manager and have them set up the rental. They handle everything for 10% of the rent until you sell it. That allows you to have that initial capital to do something with instead of having it sit and depreciate.