I'm studying for my home inspector certification and know how to do some handyman stuff so putting in sweat equity wouldn't be a problem.

The net migration to Nashville is positive and there are companies moving here and creating jobs.

Also the PMI for the fha is about 1% of the loan price monthly until you refinance out of the FHA loan (once you hit 20% equity) 

Dakoda Spencer one of the great features of BP is the positive attitude that is reinforced by BP community members on a daily basis.

Keep the positive vibes going! 

In the unconventional lending world there is no specific period you are required to wait to be able to refinance based on actual appraised value, which means you may be able to refinance and cash out your original down payment funds and potential lever equity immediately following rehab completion and tenant placed.  

Here was my criteria:  Age of owner(s) 45- 65+, equity 60-100%, Loan origination date 1900-2006, Year built 1990 to present (I heard this in a podcast and went with it). 

Both my primary and my current rental have a decent amount of equity.

However, i am thinking off using equity out of one of my homes to purchase another with FHA loan.

Congrats on making a lot of equity at a young age on your first condo purchase.