(NY) FHA requirements/restrictions

[Zach Letta]

Hey everybody!

I am super new to this real estate thing and it is super exciting so far. Learning all of these tips and tricks is what makes it fun in my opinion.

My scenario is this:

-was in process of buying 3 unit multi from boss

-got denied FHA bc he was my boss and also seller of property (identity of interest)

-bought the house (actually, got paid) to buy the house with a portfolio loan

-am currently house hacking that 3 unit multifamily

My question is..

Am I still able to qualify for an FHA loan with 3.5% down?