Newbie Investor Has To Relocate

[Karisha Young]

I recently closed on my first investment property in September. It's a Duplex in Des Moines, IA and I purchased with an FHA loan. I've just been promoted and will have to relocate to St Louis, MO by April 2021. I know that there is a possibility to have 2 FHA mortgages if you have to relocate because of your job but I don't know specifics.

Does anyone know if there Is there a time limit on that exception to give me the chance to save another 3.5% and closing costs? I wanted to use the opportunity to pick up another multi-family with a low down payment.

Also, I have no clue about the St Louis market...

Any and all replies are welcomed and appreciated.

Thank you