With your current payment of $600 P and using the 50% Rule, you will be cash flowing $50/month at $1300 rent and $100/month at $1400 rent. Since you are close, you could manage yourself and add an additional 8%-10% that you 'earn' instead of paying a manager. That would be another $100-$140/month. So it may not be a bad rental if you want to get started as a landlord. Definitely refinance or obtain a HELOC on the property while it is your primary residence though.
Other things besides finances to consider are:
Can you sell the house? If you can, DO IT! This is my generic advice to this question as your numbers indicate that you have enough equity to cover selling commissions. Although, can you buy another place and keep your equity in this one? I have 2 uncles that have rentals in rural areas about 45-60min from Topeka, KS (not really any jobs between house & Topeka). They are having a hard time keeping their houses rented because of the cost of gas. If this is similar to your situation, SELL! So consider what constitutes your commute and if others will continue making that commute. Suburban to downtown, most likely there are jobs close or renters are willing to commute for schools.
Did you buy the house to live in or to rent out? If it was to live in, SELL IT! Rarely do houses you buy to live in make sense to rent out. Your numbers are decent, but could you sell your house and buy an even better rental property that you bought specifically because of the numbers?
Do you WANT to be a landlord? If you want to be a landlord, this is an easy way to start. Although being a landlord is work. Even if you have a manager, there are things you have to take care of and deal with-handling payments, vacancies, repairs, managing the manager etc. Again, if you want to be a landlord, look at see if there are better ways to become one in your area. Although being able to get a HELOC on this property can give you a boost to buying more rentals.
Maybe this was just my personal experience, but starting out landlording kinda sucked. Not from bad tenants or the horror stories you may be thinking, but in the financial sense. I diligently put all rents into a separate account and pay bills and repairs out of that account. The account just didn't move with only 1 property. It would start to rise, and then taxes were due. Going up? Nope, insurance this time. It wasn't very exciting. Yes you're paying down the mortgage, but the cash doesn't add up at first. It wasn't until I hit #6 that I started to feel the needle was moving in a decent way. Remember, you're looking at cash flowing $50-$100/month ($600-$1200/year). Putting in work/effort and not getting anywhere was frustrating.