FHA loan rules please help

[Chipo Masuka]

Hi everyone I'm very new to all of this. Just heard of REI a few backs and have become fully immersed. Just went to my 1st seminar today. So amazing and so much info. But I could use some advice. My mom has a house ARV is around 400K. She currently owes 184k. I dont have good credit around 560 FICO. I learned some tricks to help with that but it will take some time. I want to purchase the house from her using a 1st time home buyer FHA loan. Because I understand that I only have to put down 3.5% My plan is to buy the house sell it. And use the profit to invest in a multi family unit. If i said anything crazy in here. Please correct me. Any advice would be appreciated. Like I said I'm very new and just looking for a place to start. Also the home only needs about 20K-30k to bring it up to date. 4br 3.5ba. End unit in a HOA. Booming neighborhood.