That is the rule with conventional.

You do still have the potential to purchase long-term rentals conventionally (because they'll count 75% of the income from the new acquisition) and to purchase short-term rentals where the appraised long-term rent is sufficient to offset your mortgage (this is harder because Airbnb properties are usually nicer than long-term rentals and, in turn, wouldn't make for great long-term rentals because they won't cash flow).  

Conventional Loan and Borrowed money from 401k.

Conventional loans in Texas would not require you to carry your spouses debts. 

Conventional financing?

After receiving multiple offers, Ichose the buyers with the largest down payment, using conventional financing and seemed to have the most reasonable/seasoned realtor.

I wanted to take out a 30 year conventional loan from caliber home loans.

All conventional 20% down.

30 year fixed conventional How did you add value to the deal?

This means that if you currently have a cash-out refi in place on a home, you'll need to refinance to a conventional rate-a-term/ non A6 loan BEFORE applying for a HELOC.