But we have been thinking that maybe we should stay in our current home and buy some rentals... we have a significant amount of equity in my current home. both have stable jobs...looking to make a wise decision to break in real estate.

These systems are generally stable and require very little maintenance.

At this point uncertainty in overall macro economic conditions makes me a little hesitant unless I can find something in a relatively stable market that produces a double digit cap rate. 

Have you had success making sure the house is stable, patching and filling the cracks, and just reselling it? 

@Joel Owens so what happens with these great stable NNN leases purchased at a 4.5 CAP when the market rolls?

I would pay $45K for $1000/month rent with a stable tenant.

My credit remains stable and I have moved in with family so I can travel freely for work and reduce housing cost.  

Doubles and multis in desirable areas are flying off the shelf right now and a little snow or cold weather isn't going to affect the dedicated investors, LLCs, and hedge funds that are piling into this market.

These are all fine, stable areas where lots of people want to live. 

I appreciate your enthusiasm to jump right in there and get started but I think you might be better served either 1) waiting and building up some capital, 2) finding more stable financing options, or 3) finding a real deal and then partnering with another investor who could help with the capital requirements.