FHA Loan Hack Question

[Nathan Simons]

Hello everybody!

I have an idea and I want to ask the BiggerPockets community if this is feasible. 

Okay so here is the idea I am having...

I currently own a primary residence for 1 year here in Milwaukee, WI. It is my first official home and I put 20% down. I am thinking on getting a FHA loan for 3.5%-10% down to buy a duplex. The goal is to rent out one side of the duplex to pay for the mortgage and keep the other side vacant for a year while I fix it up. At the same time I want to keep my primary residence that I put 20% down for.

Is this possible to do?

Thanks all!