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.

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.