I put 10% down and prepaid all of my PMI at the time of closing through a conventional 30 year mortgage.

@Michael J ScanlonList it for 45K with a 5K commission (Assuming it can go FHA/VA/Conventional).

That typically means doing some deals to raise cash, wholesaling or lease options come to mind, so they can look at more conventional types of deals and financing.

The original goal was to rehab, appraise, and replace the private lender with a conventional loan.If I were to sell, I could initially offer 100% O.F. for about 6 months, then I would need to get enough cash (call that amount 150K) out to pay back my private lender. 

You'll be more competitive with a conventional loan.

Both have a conventional mortgage and cash flow very well since they are in highly sought after vacation areas. 

We are considering refinancing to remove PMI, and are also ready to invest in a what will be a rental getting a conventional loan at 20%.Is there a way for the lender to pull the credit one time?

If the property is a foreclosure being sold "as is" conventional financing is not an option unless its going to be a primary home.

@Shawn GilbertThere is a few lenders that loan at 3% conventional.

That said I just got 3- 30yr conventional’s for 4-4.5%.