BRRRR Into FHA or Conventional Low Down House Hack

[Marcus Joseph]

Hello All!

Does anyone know if it is possible to BRRRR into a low down house hack? I was recently pre-approved to buy a house FHA or using a low down conventional loan and I am already looking for a flip in Houston. My strategy was to bring in a partner to fund a flip, essentially BRRRR that property and live in it/rent the other rooms to my roommates and Refinance into an FHA loan, use those funds to cash out my partner and have a little more equity to put into another deal.

If this strategy is possible, how much LTV would I be able to pull out with an FHA or low down conventional loan? Also, if you have any notes or tips with the strategy, please let me know!

Thank you all for your input!