True. If you’re planning to move back into the condo in a few years, and the appreciation on the condo is such that it would make it difficult to purchase it again at a reasonable cost in a few years’ time, you may wish to rent it even if it’s cashflow neutral.
For example, we have a condo in a HCOL city that we are renting out even though it doesn’t meet the 1% rule, because housing in the city appreciates at a much greater rate than 7%. This way, the value of our condo grows at the same rate as the increase in real estate values, and when we move back to Canada, we can either live in the place or trade up.