Conventional or FHA?

[Jarred Jones]

I'm playing to get my first rental property this year. I'm looking for a multi-family 2-4 units. My lender offered me a 5% down conventional loan as well as a FHA loan. I know I am required to stay in the home for at least 12 months with the FHA loan. Is that the case with the 5% down conventional as well? Also how long do I have to pay mortgage insurance on both conventional and FHA? Other pros and cons of each loan? Thank you!