FHA question - how to finance second deal

[Anthony L.]

I own and occupy a 2-family house in MA which I purchased and financed with an FHA loan in October of 2013. This was my first of hopefully many real estate acquisitions.

Keeping the details short - the apartment I live in has 3 bedrooms, I occupy only one and rent out the other two. I see a huge opportunity to move out and rent the entire place, netting a $500+ cash flow monthly (after PITI), and move into another multi/condo/SFH.

My question is: what are my options, regarding the FHA financing on this property. It's my only property at the moment, and I'd love to find a way to refi out of FHA or structure a deal in which buying another property is possible.

My financial details: $32k in savings, steady income of $45k+ per year, mortgage on property 1 of ~ $1900 (including PMI, taxes, insurance). The rental income more than pays for the property at $2,400/month (fully rented).

Do I have any viable options? Or am I severely limited due to the FHA restrictions? Any thoughts, ideas, comments, or advice is appreciated.