If you previously bought a primary using an FHA loan..there are some exceptions that you could obtain a new FHA loan, usually within 12 months of occupancy and some extenuating circumstances that could allow for sooner.

There are some other extenuating circumstances that allow one to use more than one FHA loan at a time:- Relocating to an area beyond reasonable commuting distance to your current residence or affordable housing is not available - Leaving a jointly owned property to buy a home, and co-owner (such as divorce) plans to remain in the home.

I've actually accepted the application and I'm proceeding with the rental because the rest of their circumstances and referrals created a decent story which I evaluated to place the applicant in a "low risk" category.I'm just looking for some feedback regarding how to handle "additional" information, such as maternity leave, when evaluating an applicant.Thanks in advance for a continued discussion.

We just had an conference call on this and a wrote a forum post yesterday about this exact circumstance and loan product..check in with @Joseph Chiofalo

Consult with a tax professional or accountant for precise guidance on your specific situation, as tax rules can be complex and may vary depending on your individual circumstances.

I agree with the mortgage payment metaphor, although it's not exactly the same circumstances, so that's why I'm not 100% settled on course of action.2.

It's critical to understand the special legal issues that could come up in these circumstances, which is another key consideration for due diligence.

Did you ask your attorney if you were sued in what circumstances would an umbrella policy not cover you?

In your circumstances, the owners will 100% have to personally guarantee any loan to the LLC, so this won't be an issue.

Partially by circumstance, albeit those that I created, I will confidently say that I am the amongst the very few local Real Estate Professionals that are as intimately familiar with the rules, regulations and requirements to reliably invest in a permittable vacation rental property ANYWHERE on the Oregon AND California Coast's.