Househacked first single family home.. quickest way to next deal?

[Scott Revey]

Hi there, My wife and I just bought our first SFH and have two renters (one in each of the upstairs bedrooms). What is the least money we can put down on another single family or duplex? First purchase was with conventional loan and FHA does not allow for MFH purchases. Willing to move into new purchase and rent the house I just bought, but is 20% the least we can put down? Thanks beforehand for any tips! Scott

[Michael N.]

Not sure if Tennessee has special rules, but you're allowed to FHA a multi-family. Many lenders don't have experience with this and will tell you no. My lender told me this till I sent them a link explaining they were allowed. I received the pre-approval shortly after :)