How to refinance primary to do house hacking?

[Joseph Villasenor]

Hello all, my wife and I purchased our first home back in May 2020. We weren't thinking of real estate investing at the time but when we closed on the home we did it through FHA. Recently we have heard about house hacking and to my understanding if we refinance as conventional we can begin our journey into house hacking.

A few questions came to my mind. I believe that FHA requires you to use the property as a primary residence for 1 year; would this still apply to me if I am doing a refinance?

If I have the option to refinance and get out of FHA and begin looking for a home should I proceed now or simply wait until May 2021?

If this was our second house hack is the process "waiting until we hit a year, refinance our FHA to a conventional and start the house hunting"? Or do I NOT need to refinance and simply after a year I just get my FHA eligibility back?

If I do need to refinance as Conventional, is there a specific type of conventional loan I need to do or do I simply choose the one with the best rate (don't want to break any rules)?

Thanks everyone!