I currently have a FHA loan on one of my Rentals  ( I lived in the property for 1 year and am now renting it out )Can I now use another FHA loan to purchase another Primary Residence ?

I am also a Missouri resident. 

I am currently 24 years old.Here’s a little information on my current property (primary residence):Purchase Price: $130,000.00 Mortgage Balance: $99,937.34 Market Value: $180,000.00Market Location: Spring Hill, Florida, USA (Tampa Bay Area)Of course, the best scenario would probably be to move back with my parents, but, truthfully, I do not want to move back with my parents and siblings; however, I would be debt free and generating income from my primary employment.I feel that the downsides to selling my home is that the market in my area (currently a seller’s market) is extremely hot and, by holding onto the property, there is a likelihood that the value of the property will eventually increase substantially over the next few years.If you were in my position, what would you do?

We have a sfh (former primary residence) grossing $425/month and with over $140k equity (15 years in possession) and I am finding multi family homes in same area for slightly higher monthly cash flow with long term greater return because of having more than one property to rent.

Also, as far as me owning a personal residence goes how does that effect me in the loan process?

Homer is a great salesman face to face, he sold me when I put my personal residence on the market in ‘08.

I owe about $68k on it and believe it could sell for about $150k as is based on recent comps.Prop C: Single family, my primary residence in the Overbrook Farms neighborhood of West Philadelphia.

Liz - is the property  an investment property or is it a primary residence Do you need any funds  from this  equity now ….if not  - I wopuld recommend the HELOC  ...if property is an investment  property and if you want to ge the heloc in the LLCs name - you will likely find that there are not many lenders that  will be willing / able to  help with this  request

If It’s a good Investmejt don’t be afraid because of an IdIot tenant residIng there Don’t let that intimidate you from buying a great deal !

You don't evict some of the residents and not others.