We agreed on 3.125% conventional loan, 5% down.

It will be worthless in this scenario unless it kicked out your 4 month refi assumption to let you know conventional refis at appraised value need to season 6--12 months minimum. 

Conventional How did you add value to the deal?

We currently have enough liquid cash to purchase and rehab one investment property using conventional financing. 

In my current situation, i wont be eligible for a conventional mortgage until i can prove a US income over time and so in light of that, is the next best option to either purchase cash or get a line of credit on the cash or get a private lender with a higher interest rate (7%)? 

Just need updating and adjustments to attract high rate STR guests in the 5 rental units.When buying these we were initially approved by 3 mortgage co's for conventional mortgages, just to be later rejected because these are multifamily bldgs with land deeded to each bldg while also being within the grounds of the condo assoc.

I don't know your numbers, but it likely would be better to refi to a Conventional loan and drop the mortgage insurance. 

It has always been the conventional route. 

Nolan,Just do a rate and term refinance and switch that loan form VA to conventional and once that is done. 

20% down conventional loanHow did you add value to the deal?