So if the house is worth 300k and you owe 200k then most you could pull out would be 40k (minus costs) and it would be a second mortgage most likely which would be expensive. 7.5-9.5% likely.But, you can put as little as 15% down for a conventional loan on a single family.

I had a few questions.For the FHA loan, if I am able to afford the 20% down from the get-go, is there an advantage to doing FHA instead of conventional financing? 

9) adding multiple ADUs or adding an ADU to a quad looses F/F conventional financing.

Given your house-hacking strategy and lower monthly income, using an FHA (3.5%) or Conventional (5%) loan on a duplex, triplex, or a single-family home with extra rooms is a great way to start.

Second home loan , conventional How did you add value to the deal?

Conventional Loan How did you add value to the deal?

With your focus in using house hacking, Conventional or FHA loans would be your best options.

If you had good credit (670-730 range), you have 20% to make a down payment, and sufficient income to qualify for the home you want to purchase - Would you choose the FIRST-TIME HOME BUYER or CONVENTIONAL purchase option...which would you pick and WHY?

The underwriters will be looking at similar property condition requirements (c4 or higher) of a conventional loan (no deferred maintenance or safety hazards which would affect value).  

Great option for buyers financing with VA, FHA, conventional, DSCR, or cash of course (no seller financing).The listing will be available starting in mid-February and most likely won’t be on the market for long so shoot me a DM for additional details and I’ll be happy to chat!