Can I use an FHA mortgage for a recently flipped house?
Maybe. Depends upon how long the current owner "flipper" has owned the home.
90 day flip rule for FHA
If I wanted to purchase an investment property with a conventional mortgage, would I still be eligible to use a FHA loan down the road?
Yes. FHA does not cap on the number of homes a borrower can own. However, FHA does restrict borrowers from having more than 1 FHA mortgage unless you meet some exceptions.
What is the FHA Flip Rule?
A rule that prohibits the purchase of a property using FHA financing that has been recently sold in the past 90 days.