Just sold my house in MA. Should I rent, buy, or invest?

[Tijana Flowers-Harris]

I am selling my house in MA. I currently rent in the RDU area (Knightdale). I am finding that it is more cost-effective (today) for me to rent my primary residence rather than to buy. I also can't afford to own in the side of town that I'd like to be in (Cary/Apex) but can afford to rent (my children were recently accepted to schools in this area). 

I'd like to invest the proceeds from the sale of my home in Massachusetts. Would it be possible to purchase a three-family home up north while renting down here? There aren't many duplexes or triplexes down here to purchase. Developers build them.