Should We Rent or Buy in Our Current Market

[Corday Eden]

Hello all, 

I've been on bigger pockets for a while now but this is my first post. To give you some back story my wife and I live in the Atlanta area and bought our first property back in 2017 and put it up for rent two years later. We have since decided to take advantage of the current increase in home values and put the home up for sale. It is currently under contract and the profit from the sale will allow us to pay off our consumer debt entirely and leave us with about $15,000 in cash. 

My wife wants to rent an apartment but I want to buy something that we can live in for a year or two and then turn it into another rental. That $15,000 will be all we have in our savings, so I am torn between using some of the cash to put down on another investment or keeping the money in savings and just finding a decent rental until we have more cash to invest.

So, should buy now while money is cheap, or should we rent until the market (hopefully) comes back down a bit and we can possibly get a better deal. 

Thank you!