If you're asking about staying in the property a year before trying to get another FHA loan on a second property, that's the minimum that a mortgage company is supposed to make you wait, and even then you would need to have a good reason to be moving so soon, while keeping the first property (sounds harder than it is from what I've heard).If you provide more specifics about what you're hoping to do in the near future/long term, I could help think a little more about next steps for you, but in the current context, it wouldn't hurt to make sure everything is working well with your current property and continue to build up your savings.

The goal would be in the next couple years turn the condo into a rental and purchase another and continue this cycle.

I would like to continue purchasing properties for passive income.

Commercial only interests me as there are certain areas in Utah where the business environment is continuing to see solid growth

It will pay off for you in the long run.I have NO crystal ball, but I cannot believe that the int rates will continue to rise, the global economy is not that strong and if the dollar rises too far, it could cause economies overseas (to fail) and this will rattle the markets and people do not buy, anything, when they are nervous.

I know the interest rates are going to continue to increase as the economy is still doing good.  

Louis a couple years ago, there seemed to be a lot of development and rehabs in the Cherokee st area, which is a good sign, but do you see this trend continue?  

Regardless, I wish you luck in your work with this property and continued success in your future investments!

Luckily, I am persistent and believed in my goal enough to continue.

Shoot me a message if you'd like to continue this conversation!