However, consult your CPA of what are your options in tax write-off if you rent the first house and buy another one in better area for school location.
I hope I can help you of your plan. I am destined to help you buy a home or sell a home
One reason NOT to keep a property is if you cannot create an emotional disconnect from the home and see it simply as an investment. Renters will most likely not maintain the home the way you would, but normally with a little paint and flooring it's back in shape once they leave.
This is all to say it's a decision made based on your estate planning, tax advantages, and tolerance to view the home as a house, with little sentimental attachment. Only you can answer that question.