Rent My Current Home and Pull Equity out for a New Home?

[Edgar Ponce de Leon]

I'm trying to figure out what the best feasible path to take is?

Option A: I'm trying to figure out if it's feasible to rent my current home, pull out the equity, and use the cash for a down payment on a new home. 

Option B: Sell the home now, rent an "RV", then wait for a great deal/home in a "Buyers" market in 6mo - 1yr.

Any help would be greatly appreciated. 

[Trenton Miller]

I would avoid Option B personally.  There are many options to accomplish Option A.  First I would find out what comparable rentals are going for in your area.  Will these amounts cover your mortgage and allow you to positively cashflow?  If so, I would then find out how much equity you can full out of your current home.  Make sure that amount is enough to put a down payment on a second property.  If it is then go ahead and determine if this is something you actually want to do.  Make a decision & go for it.