Ok so I want to give a little back ground about my before I get into the topic I've been a home repair man since 18 I'm 30 now an I've always work for property management company so i know how it runs an  Operates I've been on 24 maintenance on call for student housing, retirement home an standard rental property now I'm getting into my own rental property's last year I brought a property for 130k fha  an an got the value up to 180k I refinance that fha to an conventional loan so now I'm looking for a 2 or 4 plex with an fha already have offers in just waiting to hear back an I'm also thinking of using my a line of credit from the first property to put down on a owner financing single family am I moving in the right direction or should I change things up plz let me know what you all think I'm working out of Norfolk va 

Conventional financing How did you add value to the deal?

Based on my experience and knowledge with FHA loans, if I had to do it again I would've gone conventional.

But I've gotten conventional funding on properties for which the seller said "cash only offers" due to fear of issues getting a loan on the property.

And sometimes the property needs so much work that a conventional lender like a bank won't touch it leaving one to purse the hard money lender option.  

Conventional wisdom says keep the golden handcuffs on as LONG as possible. 

When I get to the 80% LTV mark, I plan to look at refinancing to a conventional loan and freeing up my limited VA loan limits to leverage the power of it in the future with house hacking or live in (long term) flipping.

Purchased the property with conventional 30 year term making the cash flow what it is.

My husband and I bought a single-family rental in Meridian, ID in May with conventional financing and after paying HOA and PM fees we cash flow over $300/mo and the home is only a couple years old so the expenses on it are basically $0.

If you could make this work better by renting it by the room or as an AirBnb, you could analyze it that way, but either way, your PITI is going to be close to $1300 with a 20% down, 30 yr conventional loan for a SFH rental.