I have first house with monthly payment of $1500. And I'm planning to buy new house with possible monthly payment of $3000. My plan is to give first house in rent which will possibly pay my first mortgage. I earn more than $100k/year. Now I'm not sure if buying new house is going to be good decision or can be financial risk. I have family a wife and a kid. Any advices? Should I sell this and buy new or just buy new house with first one in rent or not buy house at all or any other options?
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