First time buyer here, looking for advice.Like most first time buyers currently, I’m heavily questioning buying if now is the right time to buy. 

I am not sure how much houses run around here right now in the current market I have been looking on realtor 200k-400k, I am looking for basically a cabin preferably a short distance from pigeon forge and gatlinburg.  

This means you would need to refinance the current house into a conventional loan before you can get another FHA loan.

In fact with a slightly higher credit score and full documentation income lenders are going to 95% CLTV..SFR not condo..check in with @Joseph Chiofalo he's helping several clients with cash out HELOC's and fixed seconds currently. 

(you can find how much suspended passive losses you currently have on your IRS Form 8582 - which your CPA is likely not giving to you and in that case you should get a new one)PS - I am not an CPA or attorney but I became FI doing this for myself after 10 years working as a w2 engineer :( and I am sick and tired of seeing highly educated and hard working professionals getting stuck.

I’m currently in the process of refinance with Lori Davis from Insula… appraisal was done this morning… 

How do you currently accept payment from applicants?

I'd definitely talk to your CPA to run scenarios, but I believe there are some exceptions to the 2 years if your move is due to an employment change or other extenuating circumstance that causes you to need to move more than 50 miles from your current place of residence.I feel like tax code is always slightly changing, so I've found running different scenarios with a CPA is the easiest way to get a straight answer.

Purchase price: $1,000,000 Cash invested: $400,000 Purchased 25 acres with 30,000 sq ft of buildings with intention of transforming it into a retreat venue - currently leased.

I am currently looking in NC and SC, as New England is way more expensive than other areas.