Should i rent out my house?

We have a 2 bedroom could be 3 if needed and 1 bath house with 2 acres and a 2 car detached garage with a 3 stable barn and a field that i have 2 donkeys on anyways my wife is pregnant and we r gonna sell this house and buy a bigger one well we found one but we aint sold our house yet the payment is 5oo a month and we thought about rentin it to my cousin for the payment until t he house sells the only thing im worried abut is if she moves out im stuck with 1300 house payments every month i know nothin abt rentin and i dunno if my bank will even let me do that but if u could give me some advise id appreciate it. also the house we r lookin at is for sale by owner but if we dont buy it soon they r puttin it in real estate and raisin the price $20,000