How's my plan?

[Jonathan Snider]

I work an 8-5 as a Software Engineer in Memphis, TN. I want to get into real estate investing to replace my job in 10-15 years. I see a great opportunity in the Memphis area, and I want to take advantage of it. "Blue Oval City", Ford's new electric vehicle plant, is coming to Stanton, TN in 2025. This will create thousands of jobs and bring many newcomers to the Memphis area. I think the area that will benefit the most from the new-comers will be Lakeland and Arlington, which is about half way between downtown Memphis and the Ford plant. I want to try to get some single family homes in the area to rent out. I currently own a home in Cordova, TN. My plan is to buy a house in Lakeland or Arlington and rent out my current house. I will live in the new house for a year or 2, then buy a new house and repeat the process. 

My thinking is that this will allow me to slowly build stable income. I will get good interest rates/down payments because it will be my primary residence. I can live in the houses and fix anything that needs to be fixed while living there. I will gain a good amount of equity because I will be buying houses in the 250k-300k range rather than finding cheap deals for like a 50k house.

Is this a good plan? What am I not considering?