@Edgar Perez I can help provide information for you from a conventional lending perspective if you think it would help.

Conventional investment property loan3.

Property 1 = 209k balance (349k value) 2.6% on a 20yr conventional Property 2 = 170k (218k value) 5.6% on a 30yr conventional(approximating on original post but total mortgage debt 380k)

if you aren't will to or don't want to go into those types of areas, but by all means the FHA or 5% down conventional 2-4 unit loan is gonna be the way to go in my opinion.We did a house hack as our first move into reale state investing and it was the best thing we ever did and continues to expand ints benefits to us every year, So I am a huge fan of the strategy. 

They're typically more expensive than a bank or conventional financing but can close much faster and tend to accept borrowers who can't achieve bank financing.

I received wrong information from people in the Portugal RE industry before so I'm not super confident the person I talked to is correct I'm just trying to get more data points.In case it's useful for others these are some other bits of info I've learnedRefinancing is possible but it is more expensive than conventional (usually the spread is 1-2% higher) and it is necessary to explain to the bank what will be done with the money.It is not necessary to wait to own the property for a certain time to obtain mortgage credit.

I purchased a rental property in June with 20% down and financed with a conventional loan at 8.125%.

Also if you're using conventional financing, you will need to wait at least 6 months from your purchase date to use a new appraised value for a new loan. 

Why don't you buy a new primary residence using a 5% down payment conventional loan and turn your current house into a rental?

You can put a little as 5% down payment for conventional or 3.5% for FHA.Alternative way, is to acquire the 2nd property as an investment property with conventional, while putting 15%-25% down payment.