Can I buy a STR with an FHA loan using rental income projections?

[April C.]

Hi all,

New to the forum and appreciate your insights. We own our home and an office via a partnership and Scorp. We are looking to start purchasing STR units, trying out one to get over any hiccups and moving towards a wider portfolio as we get more knowledge of the investment process.

I am trying to understand if we can apply for an FHA loan with about 10% down, take advantage of low interest rates and maintain cash reserves but also use projected income from the STR towards the monthly payment qualification? Can we even get an FHA loan for this type of investment purchase.

Appreciate the help.