You would have no other insurance on the property, this is a "homeowners" policy.Mid-term rental insurance...Mid-term rental is a term that was made up outside the loan and insurance industries.

I pulled this off but with an FHA 203k loan which allows you to wrap the cost of renovations into the loan. 

Please find some details belowAcquisition fee - 5%Asset management fee - 3% of gross incomeconstruction & oversight mgmt fee - 5% of rehab budgetdisposition fee - 1.75%guarantor fee - 2.5% of loan amountPref is 10% with 60/40 split unto 15% IRR and 50/50 there on.This is my first deal in the RV space so not sure what's the norm, so would really appreciate some guidance/feedback. # of fees looks standard but the % are slightly higher than what I have seen in the past (1-3% being normal).

I have been a small RE investor for the last 5 years or so, and I finally have come by my first rough ride with a tenant who I inherited with the purchase of my last triplex in Sellersville, PA.

So, I would ask your accountant for final answers for sure. 

However....I had no response when he stated his college loans were caught up.

My fiancé and I are open to investing out of state and are actually in a trip in Texas to check out real estate see how we like the idea of staring a family here.Our Starting Point (Conservatively)- Located in Camarillo, CA- 120k portfolio in the stock market subject to short term capital gains with a potential tax bill of 15-20k- Current W2 monthly income after taxes: $7k- Side hustle 1 income: $200 month     ($200 in profit)- Side hustle 2 income: $1400 revenue     ($0 profit) - debt at 29k- Current debt: $47k     (Auto: $29k Student Debt: $18k)*the auto loan doesn’t show on our credit for some reasonHow would move forward in our situation?

My name is Richard Pennington I am in the Raleigh North Carolina area seeking any advice on using an FHA loan or conventional  loan for my first investment property.

The first is the interest rate, my guess from the information you gave is that the loan is about 6% which isn't all that bad, but high enough to consider paying it off versus investing in some S&P 500 etf (depending on your marginal tax rate). 

Following that I usually take a look at the numbers (sometimes just appreciation & loan paydown), get excited again, and am ready to buy another property.