FHA Loan on First Los Angeles Purchase

[Alex Ballesteros]

Im on the verge of purchasing my first investment property here in Los Angeles, and I will be applying for an FHA loan, rehab the house (mostly cosmetically) and maybe add an ADU if possible, and live there until i reach 20% on my mortgage, refinance out of the FHA into a conventional loan, and then look for my next deal & repeat this process over and over again.

My goal is to build my portfolio in this manner and buy at least 1 door every 2 years here in Los Angeles. I would like to see if anyone has any thoughts on this process, or recommendations any other strategies? Any insight or tips would be appreciated.