Newsflash: Purchasing townhouse/condo to rent out and continuing to rent apartment

I was wondering if anyone has done this or has any insight on this situation. I am currently living in an apartment outside of my home state, but want to move back there sometime in the future. I believe I have sufficient income to continue renting my apartment, but also pay for a townhouse/condo back in my home state. Can anyone tell me if this is a wise decision or tell me if I should stray away from making a huge mistake? Thank you



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