If you want to cash out you have to wait 6 month under conventional loan. 

We understand that most fix and flips are cash purchases or shorter financing such as hard/private lending, but are having trouble trying to understand if other investors ever use conventional loans to finance a fix and flip.It would be great for us if you guys and gals can shed some insight on if conventional loans are really ever used for fix and flips and if so what are the benefits and drawbacks vs. hard/private lending.Thanks for all the help!

Guys. Im looking into a nice MHP with plenty of upside in the Midwest. The property is currently 16 units, there was 38 spots on the property but many of them had to be torn down so utlities are in place at the moment...

Guys. Im looking into a nice MHP with plenty of upside in the Midwest. The property is currently 16 units, there was 38 spots on the property but many of them had to be torn down so utlities are in place at the moment...

That is not the case with conventional loans (another factor to consider in your analysis).

A few key pieces of 504B.365 Subd. 3(d): (When sheriff returns a 2nd time to move out the tenant--different from where the tenant "abandons" on his/her own prior to sheriff return move out)-The landlord has specific personal property inventory and tenant inventory notice requirements.

On the conventional side I've found the 2 months waiting period to be rather stringent. 

So far I have 1099, Advertising & Marketing, bank charges & Fees, Capital Expenses (for remodels) Car & Truck, Contractor, depreciation, donations, Employee benefits, insurance, interest paid, inventory assets, job supplies, legal &professional services, loans/points, meals & entertainment, office expenses, Rent & lease, repairs & maintenance, salaries & wages, taxes & licenses travel, utilities.

After I've lived here for a year, would I be able to buy another property with a conventional loan?

I intend to use conventional financing for the first few, as I currently only have one mortgage at the moment (my primary residence.)I haven't narrowed down a target market, but so far, everything has me leaning towards Memphis for a starting point.