Keep rental and purchase primary residence?

[Amy Teresa Woehling]

Hi all!

Strange turn of events, now I'm left with a tenant in the only property I own while I'm currently living somewhere else (rent free! but time running out) and I need to decide if I should:

OPTION A. Renew tenants' lease this spring and BUY a new primary residence, which would provide me with a place to live however greatly delay plans for future investment properties.

OPTION B. Non-renew tenant's lease and spend some money to turn current property into my primary residence and THEN begin my investment portfolio.

Thank you for any help or advice!