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.

Just curious , Ive only known conventional lending for the retail commercial buildings i have and some SBA for specific parcels but what are the better type of lending options and banks  for Multi-family for these kind've units where it makes a great deal of difference between 20 and 25 year Amortization  or even 30 years if possible .

It needed a ton of work but qualified for a conventional loan.

Someone with a conventional loan would have different numbers than you would have with your HML. 

I have two conventional loans on two Single Family Rentals, and I own a 7 unit as 50% partner in an LLC.

Like @Chris Lopez said, the 3% to 5% down conventional option works best because the less money you put down, the higher your overall returns will be. 

You can also explore conventional financing.

Wondering why one can’t buy a property via conventional(10%) or FHA(3%) means and rent it out?

All 3 of my 4-families are at 30-year fixed conventional rates: from 4.5% to 4.875%.