Many condos today are not FHA approved especially the ones that have been converted. There are too many renters and it's difficult for the HOA to monitor this and now for sure how many are occupied by the owner, especially in larger complexes. You are getting down the the wire on the tax credit and that is why he is probably steering you away from it. If you don't get the $8,000 credit there is free money out there if you buy a bank owned property. You can qualify for a "soft" second up to $15,000 is you stay in the home for at least 5 years. You don't have to pay on it and don't have to pay it back. talk to your agent about these programs called NSP. Your Way Home Arizona is one of them.
Lorrie Feld, ABR, GRI
Keller Williams Integrity First