Hi Cody- I am a lender located in Dallas and have several options for your scenario.

I have signed a lease and transferred payment of 1st month's rent and security deposit to the landlord.

The FHA 203k loan is a great option!

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

If you have previously treated this property as an investment property, one option you have is to move out of this property, move into a different property you own (or into a rental), and then do a 1031 exchange.

Kayla - At Stevo mentioned you definitely have some options.

As long as you are fiscally secure enough to make that higher payment no matter what, when a 15 is paid off, a 30 still has like 70% left to go. 

While this is being promoted as a safe way to get into real estate by some experts or gurus, there is no way to secure your loan with real estate when the money is used as a deposit before the purchase is closed.

[Copied from my post in "General Real Estate Investing"]FUNDING UPDATE:
Hi everyone, thanks for keeping up with me and my undying drive to acquire this property (off-market value-add duplex in my market).
I spoke wi...

Or house hack with 10-15% down + closing costs but same % of reserves.Until then, keep saving in a HYSA or as "risk-free" as on option with some yield will provide.You're not situated to be an REI right now, just deal with it.