Looking for ways to finance another property

[Karen Malecki]

I purchased a two family house last June. I purchased it with an FHA loan and I'm living in one unit until June (to fulfill the FHA requirement of one year occupancy) before turning it into a full rental property. The property has appreciated about $75,000, with a few renovations and the fact that it is in an up and coming neighborhood.

My question is:

What is the best way to raise money for a second property in the same neighborhood?

I was thinking of refinancing out of the FHA loan into an investment property loan and then getting another FHA to purchase another property and living in that for a year, but I'd love to hear other options and get some advice.

Please advise me!!

Thanks