Find yourself a mortgage broker to shop the market for your for financing.As far as which to purchase first, home or rental, it depends on what your priority in life is.

I bought a triplex in a decent neighborhood in Lewiston through an FHA mortgage in the fall.

His stuff was all out on the sidewalk on moving night and I even picked up a few chairs, a TV set, and microwave, after turning down his offers to sell me some of the stuff, before neighborhood scavengers got to it. 

Here is the quick pros and cons on both.Gloucester: Pros -  Good tenant pool, strong schools, most houses have public utilities, consider the more desirable area of Sicklerville by the local populationCons - higher taxes, pulling permits takes the full ~21 days, higher home prices, overall thinner marginsWinslow:Pros - Lower cost houses, rental friendly township, strong demand for rentals, slowly up & coming in certain neighborhoods, lower taxes, overall fatter marginsCons - Lots of C and D neighborhoods and lackluster tenant pools, poor schools, the more east you get the more well/oil/septic you find, considered less desirable area of Sicklerville by the local populationBy the numbers both GC and WT have similar rent rolls only off by $100 to $200 depending on the house type, therefore Winslow you will net more but have a slightly riskier houseAgain this is just a general view, you'll want to look at each sub-division as there are massive swings within each twp (Ex: Brittany Woods compared to Cobblestone in GC)

If you can get your hands on a small multi, holding the property until the neighborhood is ready for condo conversion can be extremely profitable.

RESPONSE: Heavily dependent upon your personal preferences as to what neighborhoods you prefer.

I am in the process of assembling a team for a flip on a MF property in the South Shore neighborhood of Chicago.

Great neighborhood, bordered by a meandering creek and mature trees.

Details: take pictures, facetime, check out the neighbor hood, neighbors yards...etc.

Did you get your second house using the FHA in the same neighborhood or closeby?