There's a lot of factors to consider in deciding between renting and buying. 

My main concern is that we will have to take a step back or a pause in investing but want to eventually upgrade housing.  

It is still the main method I use to find deals. 

There are some potential pit falls with that plan (mainly there's a chance that 5% isn't enough to match the work involved w/ X number of doors.

It’s in a great school district (main reason we’re moving) and is about a mile from a lake with a state park.

You do not have an expense for management (I assume you are self managing)  Also you do not have electric, water, or gas bills factored in. 

Fortunately, in the scheme of things, this isn't a big deal.I'm not famiilar with Maine practices, nor am I a lawyer, but what your tenant did would be normal for a tenant on a month-to-month lease who does not want to sign a new 12 month lease. 

@Tanya Rooney Unfortunately, all I have is the main phone number. 

I am about to finish my Bachelor's in Business with a triple emphasis in Accounting (mainly), finance, and management.

I have $100,000 in (mainly private) student loans which is exactly what is killing me.