Advice please First investment/rental

[Kevin Black]

First time home buyer, using a Va loan.

So the break down, looking at two properties. Midlothian, Va vs Toano, Va.

Property:Midlothian
New Construction Stanley Martin 2 over 2 style:  3/2.5ba 1579sq priced at $410K

Seller incentives : 5.5% fixed rate for a 30 years.  or $25k in closing costs when using their preferred lender

estimated mortgage is $2,800 a month.

Property: Toano

New Construction Villa/Town Home: 3-4(additional bedroom 6k add on) 2.5 bath 2258sq. priced at $413k

Seller incentive 10k closing cost. Rate is 6.175% 

estimated mortgage is $2,900 a month.

Older Property: Toano

3b/2.5ba 1760 sq priced at $330K

Not including any incentives but using the 6.175% rate.

estimated mortgage $2,420 a month

My current job will require me to move within the next 24 months max up to NoVA and we are looking to live around Ashburn,Va where rent is about 2.7k+. 

Currently I reside with family in Toano and need to find a place to live. Average price here to rent for a 3/2.5ba is $2.4k (4bedroom will pull closer to 2.8-3k). 

Midlothian, is about the same 3/2.5ba for $2.5k. 

Schools: Midlothian is ranked high Average 8/7- competitive | Toano- 6

Cost of living the same. 

The biggest factor will be the job relocation. What we would like to do is buy then rent out and then move up state and rent. Our concerns is that because the mortgage sits at $2.8k  for new construction and average rent in both cities for those sized properties are below mortgage that we will be coming out of pocket. Best options would be either 1-Buy a cheaper older home or 2- put a down payment so that the mortgages is more feasible to rent out. The third option (like bottom barrel) would be to continue renting and save for bigger downpayment and wait for interest rates to come down more.

Financially we are in place to buy a home comfortably under $400k. Any ideas  or avenues we have yet to think about is greatly appreciated.