Choosing a strategy - should I start with house hacking?

[Firoozeh Mofakhami]

I'm very luck to be in the situation I'm in - but the more options the more analysis paralysis. My husband and I make a good living, both work remotely, and currently live with my in laws (new baby!). Therefore, we don't have an existing house, and are open to living or investing anywhere with no real limitations on timing. I'm currently determining which market, and what strategy. After my initial research, I think my first investment should be a house hack because I can take advantage of an FHA loan, whereas if I purchase another property to flip or hold, I would no longer be eligible for an FHA loan (even if I don't use the FHA loan to buy this property). Is this accurate?

Related Questions

• Would I lose my option to have an FHA loan if I purchase a rental property first? I think so...
• If you don't use an FHA loan to buy a rental property (and instead use BRRR method or other), can you still qualify for an FHA loan later for a house you plan to live in?
• We may not live in the multi-unit and continue to live with our free babysitters (I mean, in laws!) - can we just keep the unit empty and still be legal under FHA guidelines?

Thank you!