I am planning on purchasing my next home this fall.  

It falls apart completely if you think of yourself as as tenant and pay yourself rent (that you would otherwise be paying someone else).https://www.richdad.com/your-house-is-not-an-assetI prefer the quote from The Richest Man in Babylon, "Make of thy dwelling a profitable investment." 

If you could find a duplex property (or a single family house that could be turned into a duplex--check any HOA restrictions first), or a "fixer upper" to live in, that could be a better use of the equity you have in the rental house.If you run the numbers and decide it makes sense to sell the rental house (check with your accountant, figure out closing costs to selling and buying) then you'll possibly have more money to put towards a primary residence.You may want to check the neighborhoods that fall in the school district you want to stay in and look in "under appreciated" areas...maybe not the A class neighborhoods, but ones that have potential of becoming "improved".While I understand your desire to stay in a particular school district, it's not the end of the world to consider other districts if they will allow you to build real estate/family wealth that will put your entire family tree in a better position."

Is your all-in budget $130K, meaning purchase/rehab/holding/closing costs all must fall within that number?

@Tom Gimer  heck of a stretch of an argument…regulating commerce which IS specifically mentioned in the constitution as a government function doesn’t fall under any of those categories. 

Over the past 5 days, stocks like Rocket Mortgage have soared by +16.47%, and LoanDepot has jumped by +10.26%, thanks to falling interest rates.On the flip side, homebuilder stocks had a bit of a rough time but are starting to bounce back this morning.

Trying to cover my butt in case if a renter trips and falls outside the unit and sues me for all I am worth.

Sometime these arrangements fall apart quickly, it's hard to live with people who live differently than you and you don't really know how someone lives until they are moved in.  

@Bob Asad Don't fall for the trap believing you will  build a fortune off of single family rental cash flow.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $350,000

Cash invested: $20,000

Sale price: $385,000

Single Family - Off Market Deal

Fall River MA

W...