Buying Home & Rental

[Keith Adams]

We need to move soon and would like to buy a home in the next few months. I also what to get the ball rolling and start one rental property and I am not sure what options I will have after buying our home first. We will have 50-60k and are looking for an FHA loan, which should offer a low down payment and leave us with some capital, but I don't think my income will get us approved for a second loan. Would a co-signer typically be enough for the second mortgage? More capital? Should we approach this differently?

We have considered house hack a multi, but it's not ideal for us and not a lot where we are right now.

Thanks!