FHA is only really the better option for poor credit - otherwise a 5% down conventional loan is cheaper and less stringent.

Did you know that you can acquire your a primary residence from up to 1-4 units for as low as 5% with conventional.

It's also common that a lender makes you close in your personal name for a conventional loan then the deed is quit claimed into an LLC.A real estate attorney helps you do this.

You can use DSCR cash out or conventional cash out on your rental property to continue expanding your rental portfolio.

By the way, are you a conventional lender or HM?

I've reached out to lenders here on Bigger Pockets- but their rates & terms seem high (DSCR or just not good terms)- I qualify for a conventional loan, but my DTI is almost maxed so why pay an extra 2-3% DSCR when I don't have too. 

To do a cash out refinance now with conventional financing, you have to wait until the loan being paid off is 12 months old! 

If you can find smaller local banks in the market you pick they may have more unique products that they keep on their balance sheet or try and do the 5% down conventional on a 4-unit  FHA's self-sufficiency test applies to both 3 and 4-unit properties.

Finance your first duplex or triplex through FHA Loan, Conventional Loan, Owner-Occupied Financing, and Portland-specific programs.

Sure if you dont have your own 3-5% down payment then yes use DPA if you really want to buy.After going over the pros and cons typically our FTHB'ers or first time home buyers end up getting a gift or bring in their own 1-2% down + 1-3% gift and end up with 3-5% down payment and borrow at regular FHA/conventional rates (avoid the DPA program rates).This is actual experience.