Yes, it is possible to obtain a second FHA loan, but only under specific circumstances, as FHA loans are designed primarily for owner-occupied properties.

As everyone should see from the above posts, investing in real estate, especially foreclosure and tax sales, REQUIRES a working knowledge of legal aspects that can possibly affect the purchase.  

Quote from @Nick Cooper: I’m looking to purchase my second long term rental and I’m wanting to know if 20% down would be possible with an investment property as I’ve been told 25% is minimum. 

This is often achieved with written documentation, such as a formal ROW request from TxDOT or other correspondence indicating that condemnation proceedings were possible if no settlement was reached.

Usually when you buy a property you either decide 1. flip it as soon as possible or 2. hold for a rental long term. 

The new buyer would have to honor the pre-existing oil rights of the oil company.My question is: is it possible to transfer oil rights but not mineral rights?

I think the best thing to do is to go back to your previous lender, and provide an LE from your new lender and ask if there is possibility to get close to the term sheet.

I guess it is a nice touch, I would and maybe possibly should consider it in higher end listings I own and/or manage. 

Even though no prepayment is possible, we are quoting a lot of 1, 2, or 3 year prepayments. 

.: Today my thought was it is possible to grow too fast.