@Charlotte WilsonAs long as you continue to occupy the property you purchase with an FHA loan and you're not applying for owner occupant financing on the other property, that shouldn't be a problem.

(note that there are seasoning periods with loans - shorter with DSCR loans, and longer with conventional. 

@Darren Samson what kind of loan you can use is a question for a local lender. 

They were rehab properties so I purchased under a construction loan.  

For instance, a 10% interest rate on a $200,000 loan would be a payment of $1,660 / month where as a 12% interest rate on a loan would be $2,000 / month.

I did all of my loans with small local banks in my area and was always happy with the rates and service.

Hard Money loans have been the downfall of many new investors. 

Having your son involved in the loan, title, and insurance policy does have both benefits and drawbacks.

Some townships will require certain items, like an escape window if below grade or a walkout to be installed.

Lenders assume more risk with a higher loan-to-value, so to compensate they'll charge more in points, loan level price adjustments, etc.