FHA Loans Refinancing

[Willard Moshenek]

Hi All, 

I am very new to the Real Estate investing game and haven't pulled the trigger on any properties yet. One concern I have is knowing when and how I should go about refinancing an FHA loan.

The reason for an FHA loan is because though I have enough for a down payment I am not ready to commit all of it. I would like to keep part of it for any unexpected expenses/emergencies I may find. I just don't want to be stuck with a high APR or MIP later down the line. When will I be ready to refinance from and FHA loan to a more conventional one? Should I just completely ignore the FHA loan and try to get approval with a smaller down payment?