FHA loan to secure first income property. Good idea or not?
Looking to get my first income property. I will be coming into some money from a lawsuit and started looking into ways to invest in real estate. I came across an article i found on google that was talking about FHA loans. Would an FHA loan be a good idea to secure a multifamily income proprty? What are some of the pros and cons of getting an FHA loan? Will it effect future purchases? I'm fully aware that with an FHA loan the property has to be owner occupied. That's not a problem for the first purchase. I'm just trying to get some insight as to what the overall outcome could be. I'm looking to use the FHA loan to secure the first property, then after refinancing, secure a second one with a traditional loan. Any advice for this rookie would be gretly appreciated.