Trying to figure out how I should get a loan

[Justin Dillon]

Hi, my name is Justin. I’m trying to figure out how I should go about getting a loan in my first rental property. I’ve thought about getting a FHA loan, but I don’t want to live in it for a year. My wife and I are currently living in a home that we are doing rent-to-own. We will have $15k down from our first year living at the property. We will be looking to buy the home some time at the end of the year since we are both building our credit (my wife already has her’s above the minimum for an FHA loan). What we are wanting to know is if we decided to move next year sometime before the loan was a year old would we not be able to do another FHA loan to another house where we move? We will still keep this home as a rental but we will have lived in it for over a year just not as owners.