I read that one of the requirements for getting your second FHA loan is having a change in family size.

Experience depends on who you deal with - the cleaner the loan file and more organized your paperwork the smoother the process with any private lender.

Let's use that as an example. 20% down is $43,000 plus lender loan origination fees, closing costs etc is going to push you over $50,000 cash out of pocket.

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

My company is licensed in 31 states for owner occupied loans (check my profile) and I can lend in 45 states for business purposes loans (nonQM and dscr loans).

They simply do Fannie, Freddie, FHA, VA, and USDA loans.

@Steve Powers is correct that these were mostly originated as owner occupied loans.

Purchase price: $302,500 Cash invested: $5,000 Utilized VA Loan for a House Hack for my first Rental Property.

What they will offer you is an appliance package, or closing cost help, or a low fixed rate loan. 

We've utilized the VA loan for our current home, and this strategy has worked well so far.