I'd make sure you understand the Section 121 tax benefit you lose if you're turning a principal residence into a rental.
I think this is the critical factor, the $500k capital gain exclusion is worth at least $100K in forgiven taxes. That's a big deal. The rules are complicated if you turn into a rental, there is good chance you'll screw up your $500K capital gains exclusion.
I don't agree that rent being so low in relationships to the price is a good reason to sell by themselves.
It sounds like you don't have an immediate need for the money
If you sell you need to invest the ~$600k in something. None of the options out there seem particularly compelling.
You can buy 10-year T-bond collect your 1.5%, knowing there is zero chance the interest will increase, or you'll get more money at the end of 10 years.
You could buy Vanguard total bond market BND get an additional 1% in interest, have very modest prospects for capital gains, and but risk losing money if interest rates increase significantly.
You could Amazon stock (0% yield), Apple (1.4%) or the SP 500 (1.8%) and probably see gradually increase in dividend payments. But what you are really hoping for is at some point you can sell the stock to some other fool at a higher price. But after 10 years of a bull market you also face the prospect that we've run out of fools and Central Bankers money and the stocks could go down. Possibly a lot.
So the real question is what is going to be worth more in 10 years when you to want retire, the house or a bundle of stocks? I know my crystal ball is too fuzzy to give you a definitive answer. But there are some benefits for diversification outside of the stock market.