Can I acquire rental house while under contract for a new build?

[Craig Gifford]

Hello!

I am currently under contract for a new build, but do not anticipate to close on the home for around 8 months. I am interested in buying a rental property in the mean time, but am worried about my DTI looking bad / my credit taking a hit for my primary residency purchase. Is there a clever way to get this done or is it in my best interest to wait a year before looking into a rental property?