@Mimi PerezThe restrictive HOA will limit your future options and continue to be an expense.

That's also an option to temporarily bridge the gap of quitting a full-time job.It's also important to be making enough on your properties so you're cash flowing enough so you can buy more property - sounds like common sense but as mentioned you can always freelance or do something you enjoy part-time to bridge the gap in pay.

When you're weighing investment options, think about things like employment growth, rental needs, empty property rates, and property taxes.

You also have to explore the STR versus LTR in that area to see which may offer a great NOI.If you ever have any specific questions feel free to reach out I enjoy helping and talking REI.

It'll be tough to get into a pure investment in your area for 35k but here are a few options:- partner on the second deal- if the numbers make sense and you could get more cashflow then you could look at a higher price point but my guess is this will be difficult to find- Buy your first property as planned, and save the 35k as reserves and/or just keep it for the next down payment on another FHA after a year- find a place that needs some work where you can use that money to fix up and force appreciation to the propertyPersonally, I would look at those last 2 options where you have the cash on hand ready to deploy for the next down payment or rehab costs if needed.

I'm in Atlanta, GA which gives me fewer options with that budget unless I go with condos with HOA's that allow rentals, or venture out to towns outside of Atlanta like Macon, GA, Athens, Lagrange etc...

I still need to weigh out my options. 

Failure to complete the transaction forfeits the $20,000 option fee. 

Thanks for mentioning Easy Street - I'm always looking at and for more options.

I am looking at these options since both of these may be within the budget for my investment.Please let me know your thoughts ?