We rented two houses when we left (my wifes and mine, well sort of, it's complicated). The first we were always going to rent, and has turned int oa nice little investrment - the mortgage and insurance is paid off by the rent, so even after paying agents fees we break even. We'd never sell this unless we really needed the cash, why would you?
The other hosue we tried to sell in amongst the big housing crash in the UK. Couldn't sell, and in all likelyhood we are left with a little bit of negative equatity. But we switched the mortggage to interest only, off set it against our savings (very little return on savings at the moment in the UK), and now it about breaks evens, although we have to pay the agents fees. But - is it worth it - yes definitely.
Oviously depends on the country, but in the UK the rental market is still good, and with the 6month or 1 year assured tenancies you don't have much risk like the old days.
So my advise would be - do you get you money back, if so, defintely rent unless you need the money from selling. Otherwise, long term, it's a winner!
Oh - and pay up for insurance - we were uninsured until my sister in-laws roof got blown off in a hurricane!!!! Taught us a big lessons.