tax reform....sell primary use equity for real estate investing

[Ken F.]

Hello BiggerPockets,   Id like to hear some thoughts/feedback on this idea..... while I have not obviously vetted this "idea" out just yet...its intriguing to me.

I sell my primary residence and use the equity ($100K plus) on the purchase of real estate (SFH). I could rent the same type house basically in the same neighborhood for slightly less than the mortgage payment (keeping my children in the same schools). Living in TX, with high property tax, the new tax law maxing out the state and local tax deductions (in this case property tax) @ $10k will impact me (unfavorably)..so home ownership loses some of its long standing tax perks.

What I get in return - a significant boost in my rental portfolio (cash flow) and the pro business tax perks.   

what am I not considering?  ie the loss of long term appreciation (my question is more geared towards the tax perspective...not the personal side of being a renter)

*note - having relocated several times in my career, I am not tied to home ownership...   My long term goals are to acquire investment real estate to retire "earlier".  

Thanks all, ken