Is using an FHA loan for investing ethical?

[Kyle Marsh]

Hello,

Is using FHA loans or other low income/low downpayment loans as an investment strategy unethical? I spoke to a number of different lenders about my options to acquire financing as a college student, and a few times when I've mention looking into using an FHA loan or other FTHB loans to purchase a rental property, I am told that those loans are designed to help those who cannot necessarily afford a conventional loan and should not be used to "build a real estate empire." To clarify, I live in a relatively expensive market and I would plan to use an FHA loan to live in a single family for a year then rent it out after and refinance when I have the money when I graduate. From what it seems from the books and podcasts I've learned from, FHA loans are a popular method to invest in real estate for owner occupied properties. By using an FHA loan to purchase my first property and refinance when I graduate, am I unethically "bending the rules" to accelerate my wealth growth? Are there any rules against this? Should I approach lenders differently? I appreciate any input. Thank you.