Purchasing Second Home

[Joseph Saez]

Good evening all!

What I am looking to do is get out of my FHA by cashout refi, use the cash for a down payment, (where I live I can get into a Multi-Unit home with FHA with just 3K down) and get into another FHA for another home. Wise/start idea? If so, was looking to do that until a positive cashflow(again where I live after 2 homes I'll be at a surplus of about $700-$1000 a month. If not, how should I acquire my 2nd investment property? Thank you all in advance for your responses!