I am not opposed to FHA loans, it's just I know some sellers tend not to want to accept FHA contracts as readily as conventional in this current market.

@Isoke CraigBeside purchase price, there are other factors that make for a strong offer: Type of financing - convention or cash are better for a seller than FHA and VAEarnest Money - consider higher than 1% of purchase priceOption fee- higher the better - more incentive for the seller if you back outShort option period - I win offers with 3-5 days to inspectPurchase the title policyThe list goes on. 

We just refinanced with a conventional loan for 188K over 30 years.

I need to find financing for them and I don't want to use my conventional slots.

Our circumstance is similar.Theresa Harris, question for you:      On our first rental, we're sitting on @ $130K cash/equity after refinancing in October this year to capture a 2.89% on a 30 year conventional--and we took out cash up to 70% LTV. 

I’m torn between fha financing with 3.5% down, or 20% down conventional.

In that world, they don't generally do a "Pre-Qualification" like they do on a personal, conventional mortgage.

Bought it with a conventional loan 20% down.

I'm a wealth of knowledge on the conventional lending side if anyone has questions.Alberto 

I currently have 10 Conventional mortgages and I was told that is the maximum Fannie Mae allows; so the big banks are not able to finance any new purchase.