Should I buy or rent my second house?

[James Smith]

Hi everyone, not sure if this is the right sub-forum so please point me in the right direction if it isn't

I own a home in Philadelphia that I purchased a few years ago and unexpectedly have to move given that I lost my job, I still owe 600K on that home and am planning to rent it out. I had initially bought the house with a physician loan (zero down, no PMI). I am moving to northern VA and was initially planning to rent but now I'm wondering if it's worthwhile to purchase another house using a physician loan given that renting a decent 2-3 bedroom home in that area is around 4K. I checked around and I would qualify for another physician loan as long as I am living in it.

Just some other info, my wife and I make a combined 500K (I work full time she works part time) but also have about 500k (interest rate 3.5%) combined in student loans

Is it a terrible idea to purchase another home using a physician loan? I figured that prices in northern VA are quickly increasing and might have value to buy rather than rent.