We get to a few days before closing and suddenly it is brought up that I have to refi out of my current property into conventional. 

Beyond that the equity I unknowingly made in 2009 buying the house saved my *** in divorce and now my wife and I will have 720+ credit scores and low enough payments to potentially qualify for conventional investment financing. 

@Gonzalo Sequeira The best analogy I can provide was provided to me by a mortgage broker friend: "If you're in the market to buy a Mercedes (conventional loan on attractive terms), you don't go to the Honda dealership (FHA loans)."

I'm still a couple months out from being able to move from my current location so still working on identifying areas, however there seems to be (from what I've seen) pretty low inventory in what I'm looking for so basically as long as it's in Tulsa and not in a rough part of town I plan on keeping an open mind.

I am currently on rental #6 all but one using conventional fannie/freddie loans.

If you are refinancing a residential property with conventional financing then yes this will most likely (not always) make it more difficult.Most people get around this by transferring the deed to their name, refinancing and then transferring it back.

I found a lender who upfront wants to provide me a conventional loan and has no issue if I transfer the title to my LLC after closing.My goal is monthly cash flow so the conventional loan makes the most sense.

@Ken Yeung The Indianapolis market is very competitive and inventory very tight.

Still surprising to see the increase of inventory with all these developing houses but not seeing much job growth which kind of draws a blank.. 

From what you're saying it's not like the property wouldn't qualify for conventional financing.