Why does that matter if bought with HML, cash, conventional, etc. 

This is a great way to insert yourself into a deal, using something like an FHA loan, and drop your housing costs to zero, or preferably have your primary dwelling pay you.There are lenders out there writing conventional loans with 5% down, so the FHA is not the only way to get a low down payment.

@Dave Foster  Although I am labeling the property a "flip", it is a conventional loan requiring 6 months of payments before it can be listed.

Conventional financing- had to put 20% down.

Would this be a conventional mortgage or would this need to be some kind of business loan? 

Does anyone have any advice on how to purchase a 3 unit with 5% down on a conventional loan when you don't actually plan on living there?

The Question: If we cannot close on the property with conventional financing due to the tank, and the seller cannot afford to remove the tank she could be stuck. 

Also you can have 10 conventional mortgages in your personal name.

Is it possible to go From hard money to conventional refinancing As a investment?

Very firm for conventional mortgages.