FHA loan? Is this a good idea in this situation?

[Drew Herzog]

I'm 18 and don't have access to a ton of money (30k). Would this be a good way to get into rental property investing? What are the drawbacks compared to a conventional loan? Is this something to consider?

[Jay Hurst]

Quote from @Drew Herzog:

I'm 18 and don't have access to a ton of money (30k). Would this be a good way to get into rental property investing? What are the drawbacks compared to a conventional loan? Is this something to consider?

FHA requires you to live in the property. But, you can use it to buy a 2-4 unit (2 unit are much easier then 3 or 4)or house hack a single family meaning live in the house and rent rooms to friend having them pay you mortgage for you. But, you much live in the house yourself for at least a 1 year to use FHA.