buying rental property while renting
Hello everyone, I'm new here and I'm VERY anxious to begin my investing journey. I've been researching REI for over 2 years now and I'm ready to dive in. The problem is I don't really have much cash to play with. I'm currently leasing an apartment and I'm always looking at the cost of properties in my area and the prices are ridiculously low becasue of the housing market right now. I want to cash in on these wonderful opportunities while the prices are so low, but like I said I don't have much capital to work with.
My question I guess is is it unheard of for one to obtain an investment property mortgage for an investment/rental property while renting themselves? I know it may seem like an odd question, but I have looked all over this site and the web and I can't seem to find much info on this particular situation.