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Your question really has little to do with taxes. There are two questions you need to ask yourself (for starters): What are the prospects for future appreciation in the value of my home? If the answer is, 'good', then ask yourself, 'how would I do as a landlord?'
If the answer is 'I would do well or at least ok', well, then, go see a professional, or find yourself a 'how-to' book regarding residential rentals. Actually, if the answer to question #1 is 'good', I would lean towards the rental option (but then I have been a landlord for many years). Let me emphasize, Your decision should NOT be based upon tax considerations.
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