Just want to make sure I have the appropriate coverage for all circumstances that could arise.

Your issue is whether any tax is due given the circumstances of the transaction. 

Maybe if you were desperate for capital but under normal circumstances it would be foolish. 

id=539FHA loan rules do permit borrowers to have more than one FHA loan under approved circumstances that can include changes in family size that may justify the purchase of a larger home.

From an outsiders view, I’d expect Columbus, Ohio to be a relatively strong cash flow market.I’d analyze deals for cash flow under two circumstances:1) You live in the property as a house hacker. 2) The unit is fully rented, and you have moved out.In case 2, I’d demand cash flow in Columbus.

I know I can always get a job in extreme circumstances.

@Eric McCarty My sister in law had a tenant who sec 8 downgraded from a 3 bedroom to a 2 bedroom voucher, but they were told they could apply for an extra bedroom accommodation if they have a special circumstance like a medical condition in the household.

The primary element you want to see is some kind of stability in employment or prior living circumstance.

That is not legal in NYS under almost every circumstance.   

But due to the high yields on T-Bills, the possibility of renting without the feeling of throwing money away is a great benefit to me and my circumstances.