I know there is a law that you can not originate a FHA loan for your buyer client but does that mean you cant have both active? 

On top of that they are relatively easy to sell, where something like a multi family has a smaller buyer pool.So back to the details..Purchasing my first condo with $30k cash, then another $10k, puts me at $40k total investment, I rent out for $800 a month, after all my costs I'm looking at $450 cash flow per month.

What finally helped me make the decision was when I looked at the equity I was pulling out (after realtor fees, and buyers closing costs which are standard in that area).

On top of that they are relatively easy to sell, where something like a multi family has a smaller buyer pool.So back to the details..Purchasing my first condo with $30k cash, then another $10k, puts me at $40k total investment, I rent out for $800 a month, after all my costs I'm looking at $450 cash flow per month.

Sounds like a non starter.......there would be no payment history so it would sell at a Big discount and those note buyers are looking for Larger yields and Lower LTV’s than your standard refi.  

Your buyer pool would be tiny and lending would be challenging.

I have been working with as many ways as possible to find tenant buyers for my lease option deals. 

Since I am a first-time investment buyer, I would like to confirm if everything I concerned is correct.

I am in the process of buying a commercial property with one agent (with a signed Buyer Representation Contract), and am also ready to engage in purchasing a second property--closing within a month of each other. 

Obviously there are various types of loans you can get, especially being a first time home buyer and making this your primary residence...