I will most likely be doing conventional financing. 

Put money into a rehab to increase the value of the property, and refinance into a conventional loan at the increased value.

Original purchase was achieved through a conventional loan.

I know the terms for investment loans are different and usually require around 20% down, but I'm assuming if I can qualify for a regular (owner occupied) loan, I could also qualify for a conventional investment loan?

I am working to get pre approved for a conventional loan to purchase and potentially fund the rehab/holding costs but that student debt is hindering me.

I have above average credit so most conventional institutions are only supplying for primary at 80% which does not help.

For HouseHackers, Loan Officers, and anyone with expeience using either of these loans: what's your view on using a 3.5% down FHA loan vs a 5% down Conventional loan?

If I want to do a boring old conventional loan with some light rehab for my first deal, I’m in the world of inspection. 

I originally thought I would find a, owner occupied conventional loan for purchase then hard money for the construction then refinance once it is all fixed up.

That is the rule with conventional.