FHA VS CONVENTIONAL/BRRR

[Alexander Ramos]

Hello BP members. I am currently looking for 2-4 unit to house hack on FHA loan near midway area. Price range 300-360k which is high, getting 1% on gross rent is barely doable. I am trying to look in the surrounding areas and so possibly an area with lower price for multi familes also.Otherwise with conventlional I would not house hack. Here is other option.

-Use HML or line of credit to fund conventional instead for BRRR in lower price market(indiana).

Any thoughts on HML, or lines of credit given I have good credit? Can you cash out refinance with a 20-25% down payment? I'm also assuming if I do conventional, FHA cant be done for 2ND time around? Any tips to narrow own my buy and hold strategy.