Then you need to simultaneously identify a new property and sell this one.Its lot more complicate, but working with a good team will get you through this and avoid capital gains on the property sale.Upen Patel, Mortgage BankerFederal NMLS# 1374243 

a land trust would help you avoid inheritance taxes, if set up properly.  

To build on @Ryland Taniguchi's post, there is a less known technique that is "conditional release from contract" that you would use to avoid having to assign.

I just want to avoid any  mis-steps if I am on the verge of another break-line in the credit scores. 

Should you encounter hard times after buying your home, the FHA has many options to keep you in your home and avoid foreclosure.Let us know how it goes.

Any pitfalls we should avoid?

My name is Alvin Aquino,I am residential real estate investor, I tried working hard to know all what i need to avoid mistakes, being very extra careful, by doing my due diligence, planning ahead, as a result of this endeavor, I felt i wanted to full proof investment due to economic situation, so we diversified into commercial retail business with the family.I currently own a townhouse, a rental property that pays the mortgage on my current home in full, and I decided to built another single detached  house close to the church which the family really like, the condition to the lender is to sale my current home, but now we decided not to sale instead rent it out.I am seeking advice and direction on which financial institution to go or a way not to sale my current house instead have it rented to create cash flow and appreciation of the house.

Most of this area is old stock and that we wanted to completly avoid.  

We Buy Houses) I was taught to have them put out Friday evening and get them picked up Sunday night to avoid code enforcement.

I have several areas of interest on BP including auction sites, avoiding vacancy, Section 8, and learning how to evaluate a "good deal" and avoid money pits.