That isn't to say you cannot buy another property, you just cannot buy another owner occupied property, without extenuating circumstances (such as orders, a medical emergency, an unexpected job change, etc.)How you do this: save up your 20% down payment and buy an investment property with a conventional mortgage.

@Jamie Lee EangWhile the pre-approval letter will say that its good for 30 to 60 days, its really good "forever," as long as your circumstances don't change. 

Circumstances could be different in your area, make sure to contact a title company, lawyer, notary, and do your due diligence!

Your exact circumstance is vague for anybody to make a logical decision to tell you exactly what you need to do.

Of course, your facts and circumstances will apply.

Personally, it would depend on the circumstance and their occupation.

The court determined that the circumstances implicated an exclusion that precluded coverage for loss that arose out of the theft or misappropriation of funds.

Hi Spenser, If your goals are long term I would recommend buying a property that will ultimately cash flow, it might not cash flow immediately due to low rents (common in Worcester market) or circumstances that are temporary and fixable, but ultimately there is cash flow.

If the demand is the same, it would make sense to me to wait for any unforeseen circumstances that may pop up between now and then.

Lots of the folks on the podcast purchase the home using FHA then BRRRR to refinance to a conventional loan and repurchase another residence using FHA.Certain cases where you can have more than one FHA would possibly be if there is a separation (divorce) with the FHA co-owner, relocation, etc. but the bank should know more based on your circumstance.