Will I have to refinance the current FHA into a conventional loan first?

They are suffering from very low inventory, so probably won't be getting any great deals on price. https://www.wsj.com/articles/scarcity-of-housing-in-rural-america-drives-worker-shortage-1527672602

Appears there may be a turnaround with inventory coming down the road granted the trickle down may take a while!

In addition to multifamily conventional mortgages and SFR rental loans, we now also offer a Fix & Flip loan program.

If you're getting a conventional loan (especially for a primary residence), then yes it's easier as an individual.

Hope everybody is well,Quick question:When refinancing out of a VA loan to a conventional, is the 25% down on the remaining balance of the loan or value of the property?

TIA.If you want this house (that's the first question) and it has some cosmetic deficiencies and it's in a great neighborhood, I would offer him a lower sales price (like 30% lower if that's more in line with what the property will appraise for), take his financing if:there is no prepayment penalty and it's 100% financing the cash flow is acceptableand then refinance it with a lower rate product with no seasoning on title or wait out the conventional seasoning period and refinance it with a Fannie Mae loan. 

But apparently they don’t off conventional loans for 30k.

Hi evelyn,  With the way the market is right now (lack of inventory) you are in a good position to sell.

However, it is currently under-rented by about 40% and due to this, it does not pass conventional loan DSCR requirements (1.25).