Second 2 family at 5% down?

[Mark Alston]

Hello Everyone!! I’ve been along time supporter of the Community here without actually making an account since I was so devoted to the YouTube and podcast side. Im finally on the forums, yay!

I recently just purchased a 2 family unit about a month ago using FHA and my question is, how difficult is it to obtain a second 2 family a year from now with only 5% down? My current situation is I'm Married and purchased my current 2 family under my name, my wife's credit isn't the best but we are working on getting it up so we can both be on the next home loan. We plan to buy another 2 family next year and make that our new primary, will that be enough to justify a 5% down payment conventional? With all the new house hacking popularity and people interested, it seems like no one fully goes in depth on this approach, it's always kinda vague.

What do I do with my current 2 family fha loan when I’m approaching buying the second 2 family? Do I refinance that into a conventional as well?

Sorry if this has been covered before and I’m sure it has but I can’t find anything concise enough.