Feasibility - 2 Year / 10 Year Plan

[Roy Yearling]

I'm in my mid 50's and have not done a great job preparing for retirement. However, in the last 5 years I've buckled down and gotten myself out of debt (except for my current home) and saved $75k. My house is worth 600k on Zillow and my mortgage is 250k at 3%. Credit is 850.

I'm looking to grow this money and gain some long term security through real estate. I've been reading these forums and watching videos, as well as paying attention to the market in my area in WNC near Buncombe/Henderson counties. This is my tentative plan and I'm looking for some advice on resources to educate myself a little more before acting.

I still work full-time and I'll be spending a year or two on the road. My full-time job will cover my living expenses as well has allowing me to save some more money and continue to pay down mortgages. My plan is to rent out my current house. Mort/Ins/Tax is right at $2k/mo. Rents for comparable 4BD homes in this area are about 3200-4200. So, I assume I could probably get 3600 for this pretty nice single family home sitting on a nice sized lot.

I am also looking around for another duplex or multi-family home of some kind that I can buy with my 75k and rent out. Something small but rentable in the $300-$350 range. Looking around I'm hoping to find something I could rent at about $3000-$3600/mo combined. This looks doable with some of the houses I've been looking at (nothing in person, everything online to this point).

House #1 - 3600 rent. Minus 25% for maintenance, CapEx, and vacancies. This gives me a starting cash flow of about 800/mo
House #2 - 3200 rent gives me a 200 or so cash flow after the same.

Assuming I did nothing else and used all of the profit to pay down mortgages, factoring some appreciation (4%), rental increase (3%), cost inflation (-3%) adjustments, these numbers have me paying off the first house and making a small dent on the second one in about 10 years.  With 25k/yr cash flow by then. Assuming I'm able to be successful I may reconfigure and expand, but this is my initial plan and my first goal is renting these 2 houses, positive cash flow by this time next year and then re-assess. I'll see what my living condition is in 2 years and take it from there.

I rented my old house for quite a while waiting for the market to rebound and finally sold it several years ago which helped me pay off some old debt. I wish I had held onto it but it did give me some good experience dealing with tenants and opened my eyes a little bit to the realities of being a landlord.

Right now I'm just trying to familiarize myself with my market: prices, rents, availability. I have not spoken to anyone yet about this and have not discussed with a lender, real estate agent, or anyone else.   I want to be as educated as I can and try to avoid mistakes, but I'd like to make some concrete steps by the fall.

Does this seem feasible with these numbers?
Can anyone offer some advice on first steps beyond this planning and reading I've been doing?

Thanks