Don't forget if you were to sell, you'd need to pay the broker fees and closing costs, all of which would eat away at how much he'd take away. Remind him of that when you make the offer.
Can you afford your mortgage payments with the current arrangement between work, child support, and rental income?
What is your interest rate on your current mortgage?
Depending on when you bought and what your current interest rate is, it is possible for you to get a good chunk of that buyout sum out of the equity in your home and still afford the mortgage payments. IDK if that is better-- owing the bank or owing him-- guessing you can work it out with him so that you're not paying interest to him, so if he'd accept payments over time that would probably be the easiest.
And yes-- totally agree on it being a blessing that you have a long term tenant who is doing okay.
TBH I think given that the rental is a 2 bedroom, even if it is small, you probably couldn't charge much more for the bigger house than what you're getting for the smaller one.
Congrats on getting so much done-- child care assistance, health care assistance, selling stuff you don't need-- that is all terrific.
Me (46) H (42) M:14 T:18, D9 & D11 4/19 - 12/19: series of escalating BDs 9/20 - present: R and piecing
