If you planning to cash out you have to wait 6 month for conventional loan.

A good real estate agent might also be able to help you unload your inventory so you can buy a better property.

2) does FHA give me a lower interest rate or if I went conventional, is the only difference that I could go as low as 3.5% down with FHA where conventional requires more?

Hi guys, we are looking for a cash out refi lender (conventional mortgage) who works in FL with loan amounts less than $50k. 

Are commercial loans better than conventional loans?

For the record, it's not my 1st rental, but I just haven't bought either one using any conventional products.

Can someone tell me what's the lowest mortgage interest rate for a conventional 30 year fixed loan in Houston,Texas for an investment property ( single family home) with good credit and 20% down ?

Inventory is super short, and prices have been trending up to reflect that. 

I've looked for a few lenders that are willing to work within my budget and provide a conventional loan. 

Looking at your numbers, conventional financing wouldn't apply.