Requirements for rental income towards DTI for second property.

[Jami Parker]

I will be house hacking a relatively large 5br SF residence with a 3.5% down FHA loan and renting out rooms in the house individually. The rent received will not only cover my mortgage but also cash flow significantly. The property is turnkey with little opportunity for added value to gain equity. That said, the goal is to owner-occupy for about a year until I can use the rental income received towards my DTI to turn around and buy another property which I'd then be moving into and turning the first into solely a rental. However, on top of having that taxed income rolling for a year to be considered, I've heard you must have 30% equity in the home you've been receiving rental income with in order to use that income towards your DTI for another loan. Going in at 3.5% near market value with no option for ad-val I wouldn't have the required 30% equity. Is this true, and if so, are there any ways around that or is it set in stone?