Buy a home on FHA, live for 12 months and rent?

[Amy Lee]

Hey everyone.  Im new to BP!  I really want to take a dive into real estate. I was planning on wholesaling for the first year since I will be severly limited on time with my new job.

I i found out that my job requires me to relocate for a year in the Summer which got me thinking. What if I purchased a decent/liveable SFH or duplex on FHA, live there for 12 months, take a few months to rehab if needed and then rent it out. I would also repeat the same at the next location I move to, which is also likely a 12 month employment. My understanding is I would qualify for FHA again if I move significantly far from my primary residence?

i was hoping to ask the experts what your thoughts are. I would still hope to do some wholesaling but also buying a house that needs minor fixing then adding some value before renting. It won't be a full Brrrr but i might possibly get some appreciation over time and at the least my foot in the water. Thank you for your help!! 

[Jared Hottle]

Amy, I think this is a great idea. I always talk about using your competitive advantages and this sounds like an awesome competitive advantage for you! Even if not an FHA you could do a conventional mortgage and live in it for a year and then rent it out. While you work for a year talk to people and see if they have rentals or if anyone can recommend contractors, handyman, or property management and you will be able to build your team over the year so you can hit the ground running when its time to move again.