Cash Out Refi

[Matt M.]

Hi,

I am new to BP. I am looking for some advice/opinions on my general investment plan.

I own and live in a condo in Jersey City, NJ with an FHA mortgage. I plan to access the equity, about 60k, thru a Cash Out Refi to a conventional.

I then plan to purchase a multi-family property, also in Jersey City, rent out the condo, and house hack the new property. Not sure if I could purchase using FHA?

I would love to hear any other stories or recommendations that may pertain to my situation.

Thanks,

Matt