Planning to Buy, Live in, then Rent. Any Suggestion?

[Evan Parker]

I plan on doing my first property in the fashion of purchasing my first home (using FHA programs if needed).

I plan on getting one that needs a little bit of work or has some room for improvement, but isn't totally destroyed by any means. After I acquire the property, my goal is to live in it for roughly a year then lease it to someone else, and purchase another home that I will intend on living in. 

Any tips/advice on going about doing it this route? Any things I should be aware of to look out for? 

Thanks!