FHA question for the Mortgage Brokers out there.
Hey everyone, currently I am living in a 2 bedroom apartment with my girlfriend and a roommate and we split the rent 3 ways. It only cost me about 500 dollars a month to live here, which is great in the Portland Metro area, as I am only 0.3 miles from my day job, near my girlfriends college, etc. I'm pretty content currently where I'm at, and finding a good place for house hacking around here will take some time.
My original plan was to purchase a house hack here, get situated, then start purchasing rental properties both here, and throughout Detroit Metro (this is home for me and I travel there many times every year). I was wondering though if I wanted to stay in my current renting situation and purchase homes in Detroit to rent with 20% down loans or conventional loans, could I still at a later date purchase my future home here under an FHA loan and qualify? Would I need to purchase the rental homes under my LLC, which ideally I'd like to do anyways?
Any information regarding this would be great!
Thanks for your time!