Have $ to invest but saving $ to get into good school system....

[Brad M.]

I live in the Boston area. I have 1 investment property in South Boston that is 60% LTV (300K/500K) that cash flows +$700/month, 100K equity in my current home and around $70K in cash. My problem is my wife and I want to get into a top 10 school district in the area (Lexington, Winchester, Wellesley, etc.). Our first child is now 4 months old so this move wouldn't have to be for 3-4 years. In order to do this, a 3 bed, maybe 1 bath home that needs a lot of work in one of these towns is going for $700K+. So, on one hand, I'm in a good spot financially, at my age, to invest with cash or leverage my properties but on the other, I would pretty much have to sell both homes and use my cash to have an affordable payment in a nice town. Does anyone have advice? Or is this simply a choice of living in a nice town or not and I need to figure that out?