Just sold house, but thinking about buying rental instead of home

[Latham Gaines]

My wife and I just sold our house, and have $150,000 to put down on a new one in Nashville, but we've been thinking about buying a rental instead, and then renting a place for ourselves there... both for the tax breaks, and also to get on the investment ladder.  We figure Nashville real estate will probably continue to go up, and have also been thinking about a 2 year "live and flip", but we're not sure what to do... any advice/thoughts/ideas from you lovely people would be hugely appreciated!