Legal entities such as LLC's are not eligible for conforming residential loans. 

There is a  6 month delay/seasoning period where they won't let you refi with a conforming loan, however.Good luck.

But 95% of the "big" banks conform to Freddie/Fannie Mac requirements that require you to season it for 6 months so they would most likely ask for that.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $210,000

Cash invested: $50,000

Purchased this one in a partnership with my father. I have no money in the d...

I put that in quotes because M&T is still a $16 Billion dollar market-cap firm, and their "local" region is the NorthEast, but easier to work with, and the LO was able to make decisions at her level, and not have to conform to the corporate overlords. 

Comparitively, Fannie/Freddie money is "conforming" loans because it conforms to their guidelines.  

If the lender is going to sell the loan, it has to be conforming to their standards.If you NEED a lower down payment, you'll need to find a direct lender that wants a low down payment multifamily loan on their books. 

If a PMI company wanted to offer this service to private lenders, they would need everyone conforming to the same rules, which would never happen.

I am trying to understand how laborious the process for securing a legal non-conforming status for the property would be in this area.

In my specific example I have a duplex of about 715K and I would prefer to only put 20% down, I suspect that since this is a 2-unit that I am still within in conforming loan limits for a fannie/freddie.