Owner Occupied question

[Casey Martin]

Hi, I am looking at ways to acquire rental property. I have a current home which I have lived in for 2 years with an FHA loan. I am wondering if I could move to a different home in the same area and acquire a “normal” mortgage for 5% down or so, live in it for a couple of years then do the same thing one more time.... ending with 2 rental properties and a home for myself. Would this be a way to avoid putting 20% down on an investment property? Are there any downsides to this if it can be done? Thank you for your help!