As far as financing goes, I have now a steady income (although a small history), a FICO score over 760 (but never had a loan), and my dad who could co-sign if needed.

My advice would be go for the most they will loan you as long as you're in an appreciating market and you can find a value-add.

As a loan officer, I recommend first ensuring you have a thorough assessment from a contractor who specializes in fire damage.

Or should I invest regardless of student loans if my hope is to use FHA loan for smaller downpayment and then eventually rent the house out in a few years once I move?

Hi Scott, you don't need to be a first time homebuyer to use an FHA loan and you don't need to be low credit (as many would suppose), but the product probably appeals most to low-credit first time buyers.

Hi Stacie, Have you looked inot DSCR loans?

The only thing it’s difficult for is if you have multiple loans on the property.

The market is ALWAYS changing but I know at this time, seasoned investors are getting 80% LTV on DSCR in the 6% range and 90% of PP/100% of renovation if total loan does not exceed 75% of ARV for FixNFlip loans. =)  

I have two properties (exact same property just across the street from each other) one is a seller finance that is coming to the end of its contract for balloon payment and the other is a fix and hold Interest only loan that is also coming to the end of its contract for balloon payment.

That is important when considering a conventional conforming loan.