Should I buy in ATL to rent/build equity, sell it to buy in CA?

[Andrew Mok]

hello everyone, quick question.

so at the current rate that CA real estate is going, at minimum a decent home is $500k, meaning I need close to $100k to avoid PMI, and have a decently affordable mortgage (with my income level).

I am thinking of buying a property in my home town first (Duluth GA), and rent it out (properties rent really well there). Worst case scenario that it does not rent, my wife and I can pay the mortgage/bills/taxes on a $200k place in addition to the rent we are paying now. 

I would like to essentially build equity in the home in GA, sell it, and use the money to down pay for a place here. I think it's a decent way to leverage a smaller amount of cash from our side, but of course there are risks. 

Fortunately my dad is a broker in my home town, so he could be helpful, but I am also considering worst case scenario where I'd hire an agent, which I heard the usual rate is around 10-12%.

also a lot of homes in my hometown are built in the 2000s so I've seen my mom replace just the water heater one time within the last 7 years of living at her place...

thoughts? I think the biggest risk is if i miss the boat on stretching a bit to buy something here in California, but I think the market is slowing here.