But with mixed use your loan options are mostly limited to conventional.

Asking is $200K, my relative (buyer) looking to put 20% down.He is pre-approved for the amount, lender has prepared both a conventional loan and a mass housing loan option for first time buyers.Would be purchasing as an owner occupied "primary residence", rates are decent under both options.Condo is currently rented, tenant lease expires the end of August - roughly 4 months.Lender says both loan programs require buyer to occupy the unit within 60 days, to qualify for first time buyer deals.Is there a way to get them to extend this to 120 days (4 months) until the tenant lease is up?

Where you really make your money is refinancing into a conventional when it makes sense.

I am aiming for a home between 150-250k, which i can afford if all hell breaks loose, at a 5% conventional 30 year term loan (unless a lender or someone else can suggest me a better loan) My question is what are the minimum requirements for obtaining such a home (capital wise, credit score wise, salary wise) Who can i specifically talk to for these numbers and help me understand tenant demand, areas, and more specific information about my market?

You have a general idea of what you are looking for but those are 3 vastly different markets with variations in pricing and inventory.

However, there are several layers to this.First off, you will have a much easier time winning a property with a Conventional loan vs FHA.

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conventional How did you add value to the deal?

conventional loan with 20% from private money lender How did you add value to the deal?