Of course, I would need to check the HOA documents for other possible limitations imposed.

@Jake Fugman aside from the self-sufficiency test, are there any other restrictions that often trip up FHA financing? 

Also, I am not sure if certain neighborhoods would restrict the type of buildings that can be built.

However, HOAs can still make rules and regulations against them and impose fines. 

Some houses up there were built kind of up in the hills and then the protected areas were created with rules that have put some restrictions on what can be done on a property.

@Alfred LittonI think for an investment property there isn't a restriction on how you charge the interest. 

I would be comfortable taking out a loan with less than 20% down payment, although, I thought I remember hearing that there are restrictions on renting out a home with less than 20% equity, but now I can't seem to find the answer from googling.So my question is: Can I eventually rent out a house if I don't yet have 20% equity in it?

Hello, back in July 2019 I was under contract to buy a home from a seller in Manor Texas, but the contract expired and I have no plans on renewing due to the difficulty of the seller.Basically, the seller was facing foreclosure before the moratorium was imposed.

Shane, You may see some tighter restrictions in terms of LTV.

The property and loans are in an LLC and need to be kept that way because of restrictions in my current W2 job.