Trying to buy 4plex Refi Question

[Will Kelly]

So i own 2 properties and have equity in my rental(conventional)and a little in my primary(FHA). I'm looking at using the equity in my rental to FHA a loan for the 4plex and live in the vacant unit. But in order to do so i need to refi my FHA to conventional. So my question is what is the best way to structure this so i don't make things worse. Im thinking cash-out refi the rental, then just refi mine to conv then go for 4plex with FHA. But not sure how lenders will look at this. Thoughts Thanks in advance.