It has approximately $200,000 in equity and currently cash flows about $1500/mo ( we split this cash flow and equity 50/50 with my mother that is my business partner).We have 3 kids and the oldest is about to go to UTK for college.

Yea, dont do this!

I’ve got 29 SFR and this seems to be quick and easy to do.

Keep in mind, though, that this approach comes with higher down payment requirements and interest rates, which may not be as favorable

It still works for me to this day. 

This is where the bank generally gets notice Title was changed. 

Quote from @Brent Hindman: If I read this correctly, your current home would cash flow around $400/month.

Maybe your situation is different and if you don’t feel comfortable in the neighborhood then this may be a moot point anyway.As for FHA, my understanding is that you must intend to live in the house for a year  it sounds like you did intend to, but due to unexpected circumstances- lead exposure and unexpected unsafe neighborhood- you have to move.

This should be written in the lease and discussed prior to occupancy.

Is this the best play here?