I have done research into this loan and it seems like a good loan for me even though it seems like these loans typically have higher interest rates than a conventional loan.

$xx using a Conventional loanb.

Despite going through this stressful process, I'm planning on refinancing out of my current FHA loan into a conventional loan so that I can repeat the process with another FHA 203k loan because it is a great house hacking tool.  

Seems like you are starting to question the conventional wisdom. 

Additionally, depending on how you plan on purchasing - most conventional lenders won't underwrite a purchase in the name of an LLC that has no income/history. 1.

I recommend starting of with a VA or Conventional 5% down loan and house-hacking a duplex, triplex, or 4-unit. 

But hypothetically, let's say it's not distressed and I want to go conventional. 

This is why you customarily see plaintiffs attorneys take inventory of all parties who can be brought into claims and focus primarily on what insurance money can be made available. 

That 5% conventional came in clutch!

@Nancy RaWhy not just buy with conventional financing ?