Find units, use conventional financing and first time homebuyer credits/grants or whatever money they're giving away for first time homebuyers and live in one unit while the others are paying the mortgage. 

When is the best month to buy real estate in MI, as far as inventory and prices are concerned.

I have only one project that I'm currently working on, but having a hard time finding more due to market values and inventory. 

In that case after 12 months you can change the VA over to a conventional loan, this leaves you clear to then take your full VA loan benefits and get another 4-plex (only if you Owner/Occupy).

Typically speaking a conventional I believe is better.

Residential market is very low on inventory generally, especially stuff within the first-time home buyer price bracket.

There are some alternatives you can look at with a better return than 4-5 rentals which is all that will get you on conventional terms.

You can secure conventional financing, save money, and gain experience being a landlord.

Should we look for something cheaper to use cash and go with a conventional loan or can/should we use a heloc for a down payment / money to fix up a house.

My agent seems to think a conventional is better suited for me.4.