@Jonathan Morning yes almost any financial institution will have access to all the FHA loans.

Assuming I do not refinance and leave the current loan as is, couldn't I still make the argument to use another FHA loan due to my family size increasing and needing additional space?

Start networking with mortgage brokers who are in the Agency financing space as well as community banks who like to lend in this type of deal,Gino

@Russell Brazil and @Greg Scott thanks for you input despite my epic run-on sentence (posted from my phone and all spaces were deleted somehow).  

@Dmitriy Fomichenko is an expert in this space. 

I have recently got my license in order to access MLS as well as educate myslef.

I have MLS access and I look at REO's and auctions regularly but I have to admit i am stuck.

I specialize in low income housing around South Phoenix, so if I wanted to build a 3000/sqft fourplex I was looking at $300k(Plus other costs) for a building that would bring in maybe $500/month before maintenance costs.If you have access to people who can see a development project all the through, where it actually brings in decent cashflow let me know.Good Luck

@Samuel WhiteYou may be able to access around 80k of that equity with a HELOC, if your parents will sign for you to allow the property to be used as collateral. 

If you've got the capital, or access to it, I've got a team built for flipping houses here.