So, here are my thoughts...
Scenario 1 - By middle of next year, I will have enough money for a down payment (3.5%) on a property if I go FHA. I would live in the house for a year, then rent it out and look to buy another.
Scenario 2 - I wait until middle of 2020 to buy a property as a rental because I would have 20% to put down.
In both scenarios I have family that is very willing to move into my property.
My credit is still in the rebuilding phase though.
Any thoughts or advice is greatly appreciated.
Have you run the numbers on either scenario to get an idea of what you'd be looking at with it as a rental?
And are you sure you want to rent to your family? I hope you guys are all really close and easy-going or that could be potentially a bit treacherous!