Newbie moving to another state

[Troy G.]

Hey everybody, thanks for reading this! I'm 29, married, with a newborn, and planning on having another child by 2015. We're selling our house here in Florida in a few months and moving to Tennessee. I'm familiar with the area we're moving to.

We want to get into rental properties. We'll have about 75k of cash when we move, with absolutely zero debt. I make about 135k a year, and the wife stays at home to care for the baby.

We'll obviously need a place to live in, preferably with 4 bedrooms. We were looking at staying under 175k. We could spend less, but I at least want to be a in good neighborhood. Assuming we put 35k down on our home, we'll have about 40k for investments. Conservatively speaking, we should also be able to save at least 2k a month.

Since we'll be new to this, my question is this: What would you do if you were in my situation? We're in a pretty good spot, and I want to start making some decent money so I can retire when I'm eligible (2033).

Thanks for the input!