3.5% FHA vs. 5% Conventional on First Rental?

[Johnny Lasek]

Hi all,

Planning to buy a MFH (2-4 units) to live in one unit and rent the other. I would live there maybe 5 years max then when moving out, rent it out fully. Current home-owner now on a conventional loan. My current residence will turn into a rental.

I spoke to a realtor about helping find me a MFH. After our convo, his first step was to basically talk to a lender. So I did (his referral). Now I’m waiting to hear back to see my numbers, what I can afford, that sorta stuff. 

In this situation, is it best to go with an fha at 3.5% down or conventional at 5% down?