Looking At Purchasing A House For Rent

[Kolton Lynch]

Hi, And good Morning all. 

I have a question, It might seem confusing, I know have a lot to learn but I am new to investing and I feel like I am in a sticky situation because I live with my mom and my wife and child. My mom said she wants to sell her house to purchase a bigger house with an inlaw suit, She wants to put the money up front while my wife and I pay the mortgage. Now I have Rsp that I want to invest into a rental that way I can keep building my profile. I know it might be hard to house hack because I have a family already but would I be able to work around the FHA loan by saying I live in the house and staying home for the year while I have a couple of tenants pay me ? Like I said I still have a lot to learn about real estate and I am starting to do my home work so I can learn more, but I feel like I want to take action sooner rather than later So I am not always waiting for things to happen, I want to go out and make things happen. Any Advice would be helpful. I also work full time making 55K a year. So I would be investing in real estate part time until I am able to have financial freedom.