I second everything Cwadda posted. Doesn't seem like there is enough positive cash-flow to justify keeping the property. You're basically breaking even once you factor in property management and CapX.
If you didn't own the property and just had the net equity in your bank account, would you buy it now assuming you could get the same terms?
Lets say you lived in California and didn't own a house on the east coast. A friend approached you and said, "Hey, if you give me $60,000, you can take over my rental property on the other coast, that assuming you are 100% occupied breaks even." I'm pretty sure you wouldn't hop the opportunity.
So sell the house and move back to Cali. If you really want to own an investment property, I guarantee you can find a better investment option that will be more convenient or more profitable elsewhere.
Most of the times, people in your situation keep their old home as a rental because it is a BAD time to sell. If the value was way down, or you were underwater, there is a case to make that renting it out, even at a break even, gives you the chance to sell once the market improves. But with it still being a decent enough market, and you being able to sell at ~15% more than you paid, i don't see why you would retain it.
Out of curiosity, what do you think are the 3 best reasons of why you should keep it?