Hi , everyone  how many  5% conventional  loan or fha loan  can I have at a time  for multi units  property  on "primary residence " and  how  can i use this strategy  to scale  ,i.e buying  property  every year to aquire more. 

With that kind of fico score, you would be able to secure a rate that is competitive if not beating conventional investment property mortgage rates.

I am using conventional loan. 

I hope someone with experience can help.The property is a 3-bedroom, 1-bathroom house according to public records, but the current owner converted it into a 2-bedroom, 2-bathroom about 10 years ago without permits and updates to the records.Questions: I'm planning to use a conventional loan.

Your math depends on conventional loans.

With 20% down and conventional financing, properties in this market are producing cash on cash of about 10 to 12% (before vacancy and maintenance allowances).  

My plan, depending on the condition of the property, will be either a conventional 5% down loan or a fix-and-flip loan.

Spencer,If you are moving in to the property you can do 5% down (given the other property was not purchased as a primary residence.)Conventional loans allow you to do 15% down on a new investment property purchase.

Conventional loan and renovated in cash.

Funds from a 1031 exchange and conventional financing.