I read that one of the requirements for getting your second FHA loan is having a change in family size.

., income, credit score, rental history) to evaluate applications in the order they are received.Notify Applicants: Let each applicant know you will process applications sequentially and explain your timeline for review.Act Promptly: If the first applicant meets your criteria, move forward with their application and provide them with a clear deadline to sign the lease and pay the deposit.Move to the Next: Only if the first applicant does not meet the criteria or declines the lease should you proceed to the next application.By focusing on one application at a time, you simplify the process, maintain transparency, and mitigate any potential fair housing concerns.Lastly, since housing laws can vary by location, double-check Arizona’s landlord-tenant regulations to ensure compliance with any local rules about how applications are handled.Best of luck with your rental process!

Interest rates decreasing a little more will be necessary to make this possible, too (DSCR loan).Also I will have another deal refinanced by then and gain about $70,000 of capital from refinancing that.

And there are lots of conventional loan programs where you can put down <20%If it were me, and I was committed to purchasing, I would try and land an off market property needing a bunch of work and force appreciation that way.

With the proceeds we later purchased two properties the same month, one with FHA loan 5% down and received a closing credit of $8k plus a $2k check made out to us after closing.

You've got to include loan pay down, appreciation, and depreciation in your return calculations.The point of cash flow is to keep you safe.

Conventional 30 year loan.

Quote from @Vince Scipione: Standard would be an FHA loan for your situation more than likely.

You have a decent loan on the place that you won't be able to replace from a cashflow standpoint.So keep at it. 

They say as I have just seen they will loan money.