The only issue you're going to have is that you'll have to document why the new home will ideal as a primary residence while vacating the current primary (larger home, larger family size, more rooms, better area, etc).

So you were inspired by that movie?  

Ideally, I'd like a little country feel, but not too far away from interstate access ... 

My ideal scenario is to live here for a few years and eventually purchase a single family and keep this for rental income.The house is currently vacant and already has 5 offers.

Not an ideal situation to be in as a buyer.The third major problem is that you suggest you'll only be dealing with 1 loan so that should be easy.

If you are in a hot area full of twenty something professionals then maybe, but the people that rent 500 sq/ft one beds outside of expensive areas are not exactly ideal tenants. 

And I still have so much more research to do for finding my ideal market. 

those movie tickets are fun, but which would you rather have. you're here on BP, so I suggest you know the answer, but now you have to live the life, not just talk it. 

Thanks Hello Chris,This is a great question, and one that I deal with a lot.

If his strategy is to have $20k monthly positive cash flow within 10 years, this would be a more ideal situation to achieve such.