Performing "better" should also be analyzed on an after-tax basis.

This is what the assessed tax value will reset to after you purchase.  

There is an offer to buy but if I include everything I've spent over the years, mortgage P&I, taxes, insurance, HOA, and recent repairs, I will just break even.

As a tax professional I would recommend going with a specialized independent attorney. 

Your total project cost is only ~ $143k. 3c) Your interest rate is probably going to be in the low to mid 7s, at least4) All states/areas are different, but I usually see with my CFO clients that their property taxes are higher than their insurance, with taxes often 1.5x higher than insurance.5) Lastly, I saw PM fee of 8%, are you paying someone else to manage this?

Assuming your debt is SUPER cheap and only costs you 12% you’ll save $22,800 TAX FREE  So the combination is saving $60k at 12% (or more) is $7,200/yr and $130k in the bank at only 4.5% is another $5,850/yr  so you’re over $13k GUARANTEED instead of a chance to make $7,200 before taxes  

I'd say the biggest landmine to watch out for is our property taxes.

Quote from @Kevin Akers: Quote from @Brittany Minocchi: Can you qualify full doc (meaning with employment history, income, DTI, tax returns)?

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., mortgage interest, taxes, repairs, depreciation) on Schedule E starting when the property is placed in service.