On the day our fire marshal was to arrive to initiate our  final inspection, he called and asked what specifically were we planning to do with the property.

My initial thought was to use the equity to expand my FL portfolio and upgrade some features on the current house in IN.

So either you or your wife would need to be the only member of the LLC that owns your replacement property initially. 

Who would you use to go in your place for the initial viewing of an out of state property?

I've had my initial consultation with Royal Legal Solutions and am scheduling a consultation with Anderson Legal.

Purchase price: $272,500 Purchased a 4 BR, 2 Bath Home (Built 1992) initially for the family. 2100+ sf, screened in pool, storage shed, 2 car garage.

Check your initial loan docs and this type of language should jump out at you.

As with a lot of landlording, the devil is in the initial screening.

We charged forth with a home but stumbled when we learned our initial tax obligation calculation was $400 a month lower than reality, crimping our DTI and mortgage figures.

After a year cont'd, Look for new duplex to move into and repeat the process however using only a % of the intial properties equity for downpayment (the other % goes to a 20% down payment on a non primary residence investment loan) From my understanding, since the initial FHA was refinanced to a conventional loan, I should have no issues getting the second FHA loan(or try 5% down conventional loan if thats more beneficial)