A Fannie Mae rep in my area actually puts his card in the property.

There are restrictions to ARMs, the index, margin and ceiling as with Fannie Mae which is a standard.

After the rehab is complete and we have a renter we refinance to a 30yr Fannie Mae loan.

I wasn't able to get Fannie Mae financing because I'm a full time investor and at the time I applied, our partnership was still in the red.

If I use up my 10 conventional Fannie Mae/Freddie Mac loans for investment properties, does that mean I can't get a conventional loan for a primary residence?

If you plan on buying the property in an LLC you need to find financing outside of the traditional Fannie Mae/Freddie Mac loans because they do not allow you to purchase in an LLC, they require you purchase as an individual.

This is offered through Fannie Mae and you would have to refinance within 6 months of the purchase date.On an SFR you can get back 70% LTV and units you can get back 65% LTV based on new appraised value.It's pretty straight forward and just google delayed financing with Fannie Mae and you will get a link to their website.

@Cecilia Arnulphi15%-20% down is acceptable to Fannie Mae, but the loan level pricing adjustment is absolutely horrible. 15% down being the most extreme, where your adjustment for investment property is nearly twice as much as someone doing 25% down would get hit with. 20% down is penalized about 50% more compared to 25% down.Take a look, source is here from fanniemae.com.Note that these are adjustments to price for rate, not to rate.

If seller is a bank, HUD, Fannie Mae or Freddie Mac, you must provide POF with offer, and the POF is required to be dated within 30 days of offer date or offer acceptance date. 

First and foremost, you cannot buy a residential property through Fannie Mae residential lending through an LLC.