You can use an FHA loan to become a landlord

In a way, FHA allows you to purchase a rental property with 3.5 percent down.

You have to choose a multi-unit property – a duplex, triplex, or fourplex – and live in one of the units. The rent from the other units can partially or even fully offset your mortgage payment.

Conventional lenders will lend on investment homes with 15 percent down if you have excellent credit, income and assets.

Use FHA financing to gain landlord experience with less risk and potentially more reward.