Can you get an FHA loan if you already have a conventional loan?

[Israa A.]

Hey Everyone,

I'm hoping to get my real estate investing started this year by buying two buy-and-hold properties, one FHA househack and one conventional but I'm coming across some complications.

I took a year and half off to travel and wasn’t working during that time. I started a job in my field 2 months ago. I have a decade of work experience in the same industry, great credit, good income but I have an employment gap. I have three questions. 

1. A mortgage broker told me I can't get a FHA until I've been at my job for 6 months. Is that waiting period shorter for conventional loans?

2. If I get a conventional loan before, would I be ruining my chances of being eligible for a FHA or is there a way around that? I would move into the FHA property because I'd need to be an occupant for at least a year.

3. Has anyone had luck with 203k loans during the pandemic in Texas, around San Antonio? 

Please let me now if you’ve ran into this before. Thank you!