How to buy property with FHA financing?

[Christian Podedworny]

I am looking to buy a two family home in Brooklyn or Queens NY using a FHA loan which will require a 3.5% down payment and allow me to have funds left over for a remodel.There are several two family homes which caught my eye but I am not certain if I am eligible for FHA financing.

I currently own a few properties in Central Florida which are investments(land, condo and home). Since I own property does this limit my ability to purchase a primary residence under FHA financing?