How can I get my equity to work for me.

[Marshall Sanders]

My wife and I are about to buy our first house in Hendersonville Tn. It is a growing market right outside of Nashville. We have been renting the house for about a year now with the intention of buying in 2021. The owner is a family friend and is giving us a pretty killer deal. 180k is the selling price and it appraised just north of 245k. The goal is to move out of the house as soon as possible and turn it into a rental. We are planning on an fha loan taking advantage of the 3.5% down payment but are curious if there any other finance options that may better suit our goals. Is there any way to get that equity to work for us?

I am a complete newbie to this whole process. I stumbled upon bigger pockets podcast about 2 months ago and have learned so much. We are so stoked to get started. I just bought David Greens book on BRRRR and can't wait to dive in. Thanks for all the input to help a rookie out!