@Cameron Knight  Most of the conventional lenders do not lend under LLC so that will be commercial  loan for you.

Can either one work if a home only accepts cash or conventional loans?

However, inventory remains incredibly tight, with only 1.7 months of inventory in Austin and 2.4 months in the greater Austin area (a balanced market is 6.5 months).Steve Crorey, 2018 president of the Austin Board of REALTORS®, said, "In the Austin-Round Rock MSA, price classes across the board are seeing an increase in demand with a decrease in inventory. 

Let me know if you need any conventional financing recommendation I have worked with what seems like almost 100 different lenders and can definitely point you in the right direction! 

I recall needing a CO for a conventional mortgage in NJ.

That is where you get a conventional 30 year mortgage for a property you paid cash and that has no liens against it. 

I have eerily similar numbers and situation on a flip just this week but I prefer to require conventional mortgPersonally I can do better ROI on 160k than renting for $1600/moBest of luck with yours

Before applying for a hard money loan, how does one prepare for transferring the hard money loan to a conventional lender whenever the term ends.

You line up a HML - so the next time you find a "deal" you use the hard money to buy the place, fix it up, and if the numbers are all correct and you are still under 80%LTV then you refinance into a conventional loan and payoff the hard money and construction loans.Keep doing wholesale deals, since this will give you some credibility with the hard money lenders, and you will need some of your own cash for the down payment and construction costs. 

If you qualify for conventional loans, bank financing is available to use for flipping and is much cheaper than hard money, but also slower and more headaches.Remember that buying a house requires money, but it doesn't have to be your money (although it's simpler if it is).