@Delano Covarrubias you can purchase a SFH right now (if it’s under contract prior to May 31) for 1% down conventional or you can use an FHA loan for 3.5% on a duplex. 

You are describing a good chucnk of the inventory.

So we are refinancing our owner occupied 4 unit from fha to conventional w/cashout.

Ruben Pereira if they’re using conventional financing that’s a normal amount of closing time.

So, can you tell me your type of loan, like:traditional mortgage types (FHA, VA, conventional)hard moneycommercial mortgage (like a portfolio loan or secondary market commercial)private moneyHELOC Seller financingPersonal savingsIf you did a BRRRR deal, you can list both the purchase and refinance source.And if it was a traditional mortgage, hard money, or conventional mortgage - what company did you use to originate the loan?

I think the best play is to go conventional at 70% LTV, refi after 1.5-2 years and go CMHC for long term.What are your thoughts?

Found a deal I should be under contract by this upcoming week but the problem is I really want to put 20 percent down but if I do that will be all my money I live at home with my parents I have a good paying job 4 bills max, should I take that risk or just settle and do the 5% conventional owner occupied loan and still have some money in the bank. 

I want to refinance my lender out and get some kind of conventional loan so I can pay down the balance with the rental income.

Such lenders expect 30-40% down and 10-15% in reserves.I would suggest keeping that $10K in a conventional IRA separate from your new 401k so you will have control over it. 

The seller has indicated that he would be willing to hold papers or I could go the conventional mortgage route.