All privet lenders want 30% for their money, and conventional is 20% with a rate between 4-5%.

What about conventional loan?

After 2 years, you have a choice... you can either refinance your FHA into conventional (NOO will typically only loan to 75% LTV) and do another OO FHA... or you can buy your next OO place conventional (typically 20% down) and leave your funding as is on the 1st place.

Traditional wisdom is that people looking this time of year figure sellers are desperate, but then again the inventory is extremely low and you aren't desperate.

You have to know the local conventions, like what people expect in their rentals, what is a good item to attract good renters and what is a waste of money.

As you don't have a relationship with them, the down payment requirements will be as high or higher than conventional funding.

My market has less than a 2 month supply of properties under $100k, so there isn't much possible "inventory" for them to control, and most of that is in areas I wouldn't touch.

Does anyone in Houston ( sourrounding areas) know of a good local bank or credit union to start a long term relationship with that does conventional loans for investment SFH?

If 1-4, can you refinance it conventionally?

I have heard the fees and interest rates are higher than conventional though.