Using FHA and refinancing later

[Derrick Kwadro]

A couple of months after I retired out of the Army. I realized that my retirement goal was not complete and real estate investment might be the answer I recently purchased my primary home a year ago using a VA loan. Last month I secured an FHA with 203k at 4% as an owner occupant My idea is to buy a foreclosure or discount property from a wholesaler and using to the 203k to do some fixing and rent my primary home. And in a few months I plan to refinance the FHA loan property and use the money as a down payment for another rental property. Please advice and let me know if am on the right track or need to change my strategy.