Thoughts on Financing 2nd home

[Yessenia Ibarra]

Hi everyone!

I’m fairly new to BP and investing as well and I was hoping one of you more seasoned investors could provide some insight.
I purchased my first home in 2019 through a conventional loan, @160k and owe about 108k ( which I began renting in 2020, it has a positive cash flow of about 200 bucks monthly)

Now I’m looking into financing options for my second home(350k-450k) I have about 100k in reserves and make 120-150k a year, no debt other than my mortgage.

I’m debating between applying for a fha loan ( buying a duplex , living in one and renting the other) or just going with a conventional loan for an investment property. 

In your experience, what route did you take for second property?.. I’m so hesitant on taking the wrong path & locking up too much cash. 

Any comments appreciated !