Getting an FHA for Second home
So my question or situation is that I have 2 conventional mortgages right now, one on my primary residence and one on my only rental property I own. I would like to grow my portfolio without completely using all of my savings. I read somewhere it is possible to get an FHA loan on a second home if you are commuting over 60 miles to where that is. My job requires me to travel quite a bit to Greensboro, NC every week which is 120 miles from my home. My thinking was I could possibly purchase a multifamily there using FHA 3.5% down and just live in one of the units for a year while I am there for work for a year. I spoke with quicken loans who I just refinanced my primary home with a few months ago and they told me that it would be considered a vacation property or second home since I already had a primary and wouldn't be eligible for FHA and I'd have to do a conventional loan with 20% down. Is this true? I set a goal for myself to buy three rental properties in 2017 and thought I could get an easy jump if I was able to do this. Any guidance would be greatly appreciated.
Thank you,
Eric