The idea is to do some rehab to either section off part of the house or build out a room to airbnb (also planning to start a family this year so didn't want someone going in and out of our living space).Either we can build up equity in that property to refi into a multifamliy home or get creative for the second property which would be strickly a rental.

Thanks for the replies all, as suspected looks like I'll have to wait and build up credit to buy with a residential mortgage a year or two down the line.

For me and my success, much of it came from the build up of having my own construction company/team, RE license for sales and acquisition commissions (plus MLS access), and the design hat as well.

Here is the BiggerPockets guide to house hacking, check it out: https://www.biggerpockets.com/...The key in this is to purchase properties with a value add opportunity so you can build up enough equity quickly to refinance to into a conventional loan for another FHA use. 

It is a great way once you have a build up of your cash value.

You might want to hold onto the property for a while, build up an income history and refinance later down the road to pull out even more equity that you are looking for right off the bat. 

If you can build up the 20-25% down payment, I would look into a DSCR loan.

I am starting out so I would like a platform that helps me stay in contact with my network while I learn the business and that can grow with me as I build up. 

I’m active duty also & currently house hacking my first property in king county.

What happens to the money that I have borrowed from my friends to build up my real estate portfolio?