Renounceth not (ουκ αποτασσετα). Old Greek word to set apart as in a military camp, then in the middle voice to separate oneself from, say good-bye to (Luke 9:61), to renounce, forsake, as here.

All that he hath (πασιν τοις εαυτου υπαρχουσιν). Dative case, says good-bye to all his property, "all his own belongings" (neuter plural participle used as substantive) as named in verse Luke 14:26