Does the BRRRR Strategy work with an FHA Loan?

[Ryan Clevenger]

I'm in So. Indiana and looking to buy my first investment property and then use the BRRRR strategy to buy my next property or two. I've been pre-approved for a 3.5% down FHA loan which is what I would prefer to do because the low money down but with it being an FHA loan the house is going to have to be in livable condition to meet requirements for the loan. So I'm wondering if the BRRRR strategy still applies? In my area(Southern Indiana) I'm looking at houses in the 30-50k range that if I put about 10k into they should in theory be worth about 50-80k. Thanks in advance for any help!