FHA loans per individual ......

[Michael Dunn]

Good Afternoon,

I am hoping that someone can shed some light on using an FHA , and how many times an individual can use an FHA .... so long as they meet the standards each time they go to apply for the loan ?

So if you were to use an FHA loan 1 year from the date that you closed/purchased a property as an O.O. , could you in theory 1 year from that day get another FHA loan at 3.5% down ( so long as you still meet the guidelines and qualified ) ?

I am trying to way and look at all available options , as which best way(s) to go about acquiring Rental properties .

I want to buy them as an Investor so that I can Rent them right away, but I can't afford putting 20% down right now in order to do so . So buying them as an O.O. and living in ach property for 1 year is my best and likely option right now ( until I can save up the money to put down on a $80,000 - $100,000 property ..... so I'd need $16,000 - $20,000 to put down on a property in my area, that is in a good neighborhood and that has great Rent to value ratios. Jus not quite there right now with having that amount of $ for a down payment.... hopefully within the next year or two though  :)

Thanks for the help and advice