Second Property Purchase with FHA Loan

[Ryan Modesitt]

Hello! New BiggerPockets member!

I purchased an owner-occupied three-family property a little over a year ago with a conventional loan (5% down). I am now planning to purchase a second property, applying a similar strategy but I prefer to finance through an FHA loan. I do plan to live in the new property for at least one year but also understand there are other factors to consider since this is my second purchase…

Are there certain FHA rules or restrictions for second home purchases? How likely is it to receive FHA financing for a second owner-occupied rental property?

Any advice or thoughts would be much appreciated!

Thanks!

Ryan