FHA is the 3.5% down program, and conventional is the 5% down program. 2) You have to live in the property for one year from the date of the closing.

Hello everyone,I want to get started in Real Estate by obtaining a 3-4 unit Multi-Family property.The goal would be to buy the property under value, fix it up and then refinance out of (possible FHA loan) after the year is up and get into a conventional loan.

Conventional lenders allow for 10 financed properties.Non traditional lenders there is no maximum amount.

Also, I could lock in a lower purchase price that I would be able to get conventional or FHA financing for. 

I used a conventional loan with 3% down.

I also work a full-time W2 job so I understand the schedule complications, but it also makes it easy to get conventional lending.

We have been using conventional mortgages so we will be looking for new funding methods soon.

@Erinn Bolden have you considered refinancing your VA loan to a conventional?

Conventional wisdom has always been not to re-name an established cabin due to name recognition so we held on to it .. for awhile.  

1031 exchange to a conventional loan How did you add value to the deal?