Mortgage/renting/new home questions

[sniper7]

Wife and I are looking at moving up to a bigger home and a little land next year.

we wouldn't be moving far away and I have a good friend who has several homes he has as rental properties who would help me out, so I would like to rent our current home out.

potential issues:
current home has FHA loan. We can refi this into a conventional but would probably need to do the next house as a FHA. Is that possible? If not, we would be running pretty thin after putting 20% down on the next one having to do it as a conventional.
are you able to have two FHA loans?
any idea what rates are at for us to refi right now from FHA to conventional. I'd like to get rid of the MIP as it is $208 a month and I'd prefer that $$ to be profit in my pocket or repair fund money than to protect banks from people not paying their bills. Our current interest rate is 3.25%

As far as renting goes, my friend has given me a lot of advice and has a very very solid rental agreement, but any advice on what to watch out for, who to rent to, what to make sure I have in the contract etc would be appreciated.

Thanks for the help.