Ideas to move forward

[Mike Jennings]

Situation: I own one property that is currently rented until April 2025 in a different school district. We moved in with a family member to help them out. My kids began school in this new school district and are thriving so we want to keep them in their current schools.

Wanted outcome: I want to keep some version of an affordable residence for my kids to use as they start out in early adulthood. I also want to get a house in their current school district (as living with this family member is becoming too difficult).

The current area we are living in is very expensive (Boerne, TX) and is a heavily deed restricted region. I have about $175k in equity in our rented house (2.79% mortgage rate). Suggestions on moves? Acreage with additional structures is probably not an option. HELOC for second property? Sell current rental? Self contract 1-2 new builds with equity? Bet it all on black in Vegas? lol. I need some outside input. Any help is appreciated.