​Which Of these 2 financing scenarios should I pursue?

[Patrick Martone]

Our goal is to househack and rehab a 4plex with my father. Looking in NJ, FL, and TX.

We have an LLC, perfect credit, own two homes, and 3 vehicles. I have 100k cash, a 401k and appreciating stocks.

My dad will pay the mortgage monthly and I will make the down payment.

I want to purchase a second MFH 3 years after my first MFH, so I don't want to put all my cash on the table.

Scenario 1 (20% or less down on conventional loan or 30 yr mortgage, or commercial loan):

1. How can our assets help me make a larger down payment? Or at least speed up the loan approval process?
2. Can the LLC provide any financing advantages?

Scenario 2 (Streamlined FHA Loan):

1. Can you use a streamlined 203k loan purely for the 3.5% down payment? Or does it need to require rehab?
2. What is required to become pre-approved for a FHA loan?
3. What other FHA alternatives are there where I can contribute less than 20% on a down payment?