Question about FHA loans

[Richard Ellis]

I tried looking around to see if this question had been answered elsewhere, but I didn't see anything. First, here is the background. I am a new investor in Orlando, FL and I am currently renting a house. Consequently, I am locked in for another 10 months on the lease. I would like to get started with investing (I think I may have access to private money). However, I have never owned real estate before. Consequently, neither my wife or I have yet used our FHA loan. My two questions are this:

• If I purchase a rental house or two in the next year using conventional financing and they are not my primary residence, could I still use my FHA loan next year for my first primary residence?
• If I use my FHA loan once and then I want to move after a year and rent out my old residence, could my wife use her FHA loan then to purchase another house with 3.5% down as a primary residence? I would think that as long as each FHA loan was used by either my wife or I and not cosigned, then we could use it twice as a family?

Thanks for the help guys and gals!