If you are relocating more than 100 miles away from your current home (which it sounds like you are), then you can buy another property with FHA and only need to put 3.5% down. 

I am going to be relocating to another state and I want to know how I can understand how to analyze and see how I can rent my property, and I want to buy another property to live in and see if I can afford to do both.

Otherwise it may be that you simply could not afford to move into a house of equal stature unless you are fully relocating without a reduction in income. 

This has led to an increase in property prices and a surge in people relocating to the city for employment opportunities.

If the HOA changes their mind, you can easily pivot to a furnished rental, work with corporate relocation companies for short term leases, or a standard LTR.

I relocated to Charlotte NC this year for tat same exact reason.  

That said, I cheated and relocated to the Detroit Metro area for 5 years.

The demand is real because DFW continues to have corporations moving head quarters relocate here and creates opportunities for new jobs.

Earlier this year, polling results released by the Boston Consulting Group and The Network, a recruiting alliance, placed London atop the list of the world’s best spots for relocating workers.How did Austin, in the eyes of money.co.uk, become the relocation capital of the world?

Prior to that, I would have made about 60K a year cash flow and another 40K principal pay down.I could easily live off that if I relocate to a lower cost of living area like I plan to, because I live modestly, a used Toyota, no fancy stuff, cheap dinners out.But recently I started considering the tax free strategy of cash out refinancing periodically to live off that equity tax free.