203K loan or something better?

[Michael Dahl]

I currently have 2 rental properties, a single family home (conventional loan) and a duplex (FHA loan). I am looking at buying my next multi-family property. Can I use a 203k loan for that next property? What other loan options should I be looking at for the next property? I currently have about $40k saved for the next property. Thanks ya'll.

[Elise Marquette]

Sure, as long as you plan to live in the property. Additionally, if you are generating income from your current FHA loan, the new property will either need to be 100 miles away from the current FHA property or you'll have to refinance it into a Conventional