Refinancing a USDA home loan and what to do?

[Nathan A Jonas]

Hello BP members,

I have looked for a decent amount of time amd still cant seem to find the answer I am looking for. 

Currently I am 2 years in to a USDA home loan. This coming new year my significant other and I plan on moving into another townhome and renting the one I currently live in. She will use either the USDA or FHA loan (whichever she chooses) to purchase our second place. I will then use a governmental loan for the third and then she will use one for the final fourth one. I understand we can do this as we arent married and a person I technically allowed to have both an FHA and a USDA loan in their name AND rent them out so long as we have occupied each for at least a year. Okay i hope i have the current info correct and i haven't lost anyone.

My questions are:

I have a USDA loan now, if I refinance into an FHA loan, does that mean I am able to obtain a USDA again?

Would it be better to instead try to do a streamline assisted USDA refinance?

The goal for me is just to lower my monthly payment to get more cash flow monthly when we rent. Refinancing rates right now are lower than what I currently have so I would like to take advantage of this. Thank you for any input you may have.