I have some experience with real estate and conventional lending, but have never used Hard Money for a flip or buy and hold.

Yes, we have recently purchased in our own names with a HML, performed renovations, moved into it and then refinanced with a conventional lender.  

I've decided to go with a 15% down conventional loan.

Note investing is easier to do remotely vs conventional real estate.

So, yes, we have seen prices go up over the last years and not much inventory, but they are out there you will definitivley see positive cash flow at these ratios with 25% down.

Some won't lend on a residential property (less than 4-units) with a conventional residential loan product, while others will. 

I want to start getting my foot wet in rental properties.I want to apply for a conventional mortgage with a bank, but I feel that my income taxes are not going to be enough to back me up.

@Andrew Angerer if you are using a conventional lender you have zero control or decision with the appraisal.

I believe that I can contribute to increasing the inventory of properties that new homeowners desire to move into in the metro Detroit area.

That represents an increase of 3.8 percentTotal dollar volume for full-year 2018 soared 21.5 percent to $28 billion;December single-family home sales declined 4.1 percent year-over-year with 6,543 units sold;Total December property sales fell 4.6 percent to 7,709 units;Total dollar volume for December edged up 1.0 percent to $2.3 billion;At $240,000, the single-family home median price rose 3.4 percent to a December high;The single-family home average price climbed 4.7 percent to a December high of $306,314;Single-family homes months of inventory grew slightly to a 3.5-months supply;Townhome/condominium sales fell 7.8 percent, with the average price up 4.6 percent to $206,760 and the median price up 8.1 percent to $169,500;Leases of single-family homes shot up 13.2 percent with average rent unchanged at $1,771;Leases of townhomes/condominiums edged up 1.6 percent with average also unchanged at $1,532.https://www.har.com/content/newsroom?