Congratulations on your move to real estate investment.You don't need to have a 20% down for a conventional loan.

and in scenario 2, i think you're saying you borrow the down payment + get a conventional loan. 

Depending on your situation, you could do a conventional cash-out refinance on the rental.   

build don't' buy. 43203, 43205, 43206, 43207, 43223, 43222. new construction is selling at a premium by 30% to existing inventory, land is in better locations. infill lots for single family or 3 family is what we do I have a million posts in the marketplace about it. most of those are adjacent downtown zip codes in columbus where there is existing inventory. 

Is it that there is huge inventory of newer buildings like over at Harbor Point etc, or Stamford is not a desirable area for people to rent?

Perhaps instead consider using private money, doing the reno as quickly as possible, and then using a DSCR or conventional refi to pay off the private money.I tend to agree with @Drew Sygit and @Nathan Gesner that tapping the equity of your primary, especially with something variable and unpredictable like a HELOC, is not a good idea, but with one exception.

Is it true that we can't get FHA and conventional loans on distressed properties?

Utilize a 5% down conventional loan say on 600k small multI family that needs some work but is livable and financeable and that’s 30k, leaves you a good buffer for construction cost and reserves.

You can finance new manufactured, *you can often not finance (conventionally, or easily) used manufactured that have been moved more than once.

Hello everyone, I need help with getting a good deal.I am a new in Real estate investment and working on my first investment property.I have educated myself by reading many books from Biggerpockets and I have watched several videos/podcasts.I have been approved by a lender for a conventional $300K loan.