Brrrr from FHA and again

[Dillon Goral]

So I am a beginner and I have purchased my primary residence on an FHA loan about 3 years ago before I became interested in REI. I put 3.5 down, and after that started doing a bunch of updates that have created value (hidden bedroom/ half bath) before I had any idea they could be such good ideas. So now I need to refinance to get out of pmi, but I'm wondering how I can go about buying my second deal. Since it's me living here as my primary residence, there's no rental income. If I try to get another FHA loan, will the banks turn me down because of debt to income? The first house will be rent ready, just without a tenant in it and I'm afraid that if I buy another house I will get turned down simply because of the debt to income. Any experience with this?!