Conforming plus a second mortgage to make total payment lower.

I've dealt with my fare share of non conforming and it can get tricky make sure you have an experienced architect that knows setbacks etc...you will crush it

As long as there is sufficient parking, and lot size to house the structure and conform to impervious ground and FAR calculations. 

Also, the loans you are looking at are fannie/freddie conforming loans.

Your LTV may vary slightly between banks, but I think there are conforming guidelines. 

The "refinance" piece to the BRRR strategy - With conforming, conventional lending you can only receive a 75% "Loan to Value" (LTV) loan as your max "cash out" amount with a Single Family Home (SFH). 

Does anyone have experience with non conforming condo communities, I have never been through the process of getting a portfolio loan ?

You will not find a better commercial loan than a current conforming owner-occupant 30-year fixed  right now.Good luck!

But, changing the right to use the property may not be available to you, the local authorities may not allow it, for many reasons (might be because you didn't pay the right politician, LOL) So, now you must conform to an established use requirement.

In addition, most standardized federal loans are sold one or more times between banks, so knowingly providing loans that don't abide by the underwriting standards set forth for those loans and then reselling them would be committing fraud from the perspective of the purchasing entity who is expecting the loan to conform to certain standards.The rest of the loans are underwritten by the lender's own standards.