ED Nurse, wife works, father, living in Bay Area

These kids are living in the same houses and in the same neighborhoods. 

Using some equity in the HELOC to purchase a new primary and to rent out the home we are currently living in.

I have a lot of houses that my friends with say is "high crime", but that is because it is areas they would not live and do not understand.

@Carl Trube You would have to live in it as your primary for at least a year if you assume the loan.

Quote from @Joe Mills: You are exempt if you meet one of the following requirements:Owner-occupied buildings Properties with four units or fewer that are owned and lived in by the ownerSingle-family homes Homes that are sold or rented without a broker by the owner, as long as the owner doesn't own more than three at onceIf those don't apply, then you must abide by Fair Housing and you must make reasonable accommodations for people with assistance animals.

I just served a 30 day notice in Millbury (I live in Sutton but my rental is in Millbury) and I am hoping that the $4k I offered the tenants to actually move out on time is enough for them to find somewhere to go. 

If you used FHA you have to live in the property for a year anyway, so use that time to save and buy another one in a year but maybe try a low down Conventional instead of FHA.

My name is Bill (full info below) and I live just over the Cape Fear River from Wilmington in Brunswick County.

The only good time is the *right* time for your lives when it makes most sense.