Using the built in Simplepie library in Wordpress, this function fetches the first img of each post.
Display it using: echo '';
/**
* Gets RSS Image Item Link
*
* Place the following inside rss markup
* to display the the first image of that post:
* echo '<img src="' .get_first_image_url($item->get_content()). '"/>';
*
*/
function get_first_image_url($html) {
if (preg_match('/<img.+?src="(.+?)"/', $html, $matches)) {
return $matches[1];
}
else return 'url_of_default_image.jpg';
}