Were the mortgages conventional; specifically Freddie Mac or Fannie Mae?

I pay 40k for the house and 20k for the repairs and eventually refinance into a conventional loan. 

(Familiar with IRAs, 401Ks, friends/fam, hard$, traditional, VA)- Current VA loan that I could refi into a conventional to free up my VA cert. 350 on 500.- Married; earn solid W2; DTI in the teens; great credit.- Aiming for SFH in Richmond, VA and I have a starter spreadsheet of insurance agents, realtors, home inspectors, mortgage brokers, and contractors that work in the area.- Ingesting as many BP podcasts as I can!!!!

Conventional loans usually require some decent credit and then you get into dti and stuff.

Conventional Loan through bank.

@Mike Young conforming laws prevent "conventional" lenders from originating a loan to an LLC...so, you're out of luck if you use a lender using conforming guidelines to underwrite.

So that will be more expensive then conventional but the io helps offset that a bit in terms of monthly cash flow.This can make sense when speed helps or dti/rental history, seasoning of funds etc makes conventional hard to get.

If you are planning on using hard money as a bridge loan and want to refinance into a conventional loan, you might want to close the loan in your name personally. 

This is called HomeStyle conventional investor mortgage.

The popular house hacking program is called "Home Possible" it's a conventional loan and 5% down.