Purchasing an investment property can be a daunting task, especially when using an FHA loan. (It's) important to do your research and consider all factors involved before making any decisions! The following are some tips for finding the right property when utilizing this type of financing:

First off, don't neglect to factor in all cost associated with the purchase. This includes but is not limited too closing costs, renovation expenses, inspection fees and title services. These can add up quickly and make a big difference in your bottom line! Additionally, ensure that you have enough cash reserves for repairs and maintenance after purchasing the home.

Next, do your due diligence on the neighborhood you're looking at. Make sure it's a favorable location that will bring excellent returns over time. Research things like school districts, crime rates and nearby businesses; they all play a role in how well an area will retain its value! Also take into consideration if there are any upcoming development projects that could affect the value of properties in the area.

Furthermore, look into whether or not local laws restrict rental activity or limit landlord rights. You don't want to buy a property only to find out later that there are restrictions on what you can do with it! Lastly, check for potential zoning issues as well; these may put further limitations on what you can and cannot do with the property.
Still yet another thing to bear in mind is how much competition is present from other investors in the area as this could affect your ability to rent or sell your property quickly and at good prices!
(Also), be sure to keep track of current interest rates so y'all know when is best time to lock-in for funding purposes!. All these steps will help ensure y'all get great returns from yer investment down the road!

To conclude, choosing an investment property using an FHA loan requires careful consideration of many different factors --from closing costs and renovations budgeting to understanding local laws and regulations--to make sure it's worthwhile endeavor!. With proper research beforehand though, you'll be able set yourself up for success now AND in future years!.