Two convensional loans, one to live in and one rental at the same time.

[Michael Emmanuel]

Hello,

I have a preapproval for 3% down payment conventional loan, as I own no property.

Haven't found a house I like, I wanna be patient looking for my to live-in house, but I still wanna get a rental property where income covers all costs while looking for my own house.

My question is, can I get a normal 20% down conventional loan for the rental, and then later I get a conventional 3% down loan for my house? Or the 3% down conventional has to be for the first time ever property?

Also will I have to buy the first rental under LLC to qualify for the 3% down loan later? Can I even buy a rental straight under LLC?

Thank you very much