Pay off my house, or sell my house and use the equity money + the new money to buy a house in a different place.
I love my location now, my house now, and my house payment now.
No way I would rent my house out, I just spent the past couple years getting it near mint inside and won't have renters tearing things up that I spent good time and money on.
Given the economy, I'd probably pay my house off and be happy to have one less bill each month. If the economy was booming/on the up and up, I'd definitely consider upgrading more.