But my questions are what sort of terms should I be shooting for in my conventional loan?

The BiggerPockets Summit, oh wait they don't have one anymore :(The Mr Landlord convention around May every year is a great one to attend that has a focus on rental properties but they still cover other aspects of REI.

Keep your 50k for emergencies or repairs or even find another duplex/fourplex to buy with a conventional loan. 

If this was conventional You'd probably just subtract your rent from the profit in the way that had the minimum tax implications.

This property is gutted and unable to obtain a conventional loan at this time.

My inclination would be to borrow the money from a private lender and then refinance into a conventional, long-term loan and pay off the short-term private loan. 

I recently moved and have started investing in real estate full-time so I would not be able to qualify for a conventional refinance if the lender called the loan due. 

@Jaron Walling I've seen alot of wholesalers with inventory just sitting there lately. 

I have long term conventional loans 2. commercial loans that i'm only into year 1 or 2 with a balloon at the end of 7 years. terms where banks cannot call my loan due or a re-appraisal as long as I'm making mortgage payments.

Other option is to refi as a rental conventional, and then intent doesn’t matter.