Hi BP Community!
Can I purchase my 1st property with a business partner (20% down) and afterwards buy my 2nd property using a FHA loan (3.5% down)? Is this a good idea? How likely am I to be approved for a FHA loan if I already own a property?
I want to house hack my 2nd property, but I am not quite ready yet to do that.
It'll come down to your personal finances and you should talk to a broker about your situation to determine what's feasible.
Be sure to account for PMI when running your FHA numbers if you're only doing 3.5% down.