The advantages to those are that there are less restrictions, less competition and lower purchase price. 

No one on this forum would even be in this category.

Their response is always, “oh I forgot, I’ll pay today”, but they never do.I’m an extremely reasonable landlord and it’s starting to feel like they’re taking advantage. 

Be careful though because with your salary there are lots of ways to be taken advantage of like life insurance and expensive advisors etc.

There also can be some advantages with PMI when going conventional over FHA.  

I plan to use funds from the business loan to take advantage of this discount.

. - sophisticated value adds: development, TIC/coop, take advantage of localized regulations (2 off the top of my head: San Jose lot split for ADUs, San Diego city unlimited ADU count in existing conforming building), etc.  

You will have some advantage in commercial with your current job.

So for example, a 761 credit score will be in the 760-779 credit category, then going down to 740-759 and so on.2.

House hacking your first rental or doing a live-in flip would be the most advantageous.