Currently, I’ve a townhome that I personal that has about 60k in fairness. I need to transfer into town to purchase a townhome (~$300k-$400k) and I need to purchase a unit to hire out (seemingly $100k-150k value).
Would it make sense for me to get an FHA mortgage for the townhome I’ll reside in, after which get a traditional mortgage for rental unit (nonetheless deciding airbnb vs long run rental)?
My revenue is $150k in an affordable value of residing metropolis (not NYC/SF) and I should not have different money owed. Thoughts?