They are locking in crazy low rates with 30 year conventional financing and looking to hit very specific metrics on their returns. 

You should be able to use a conventional lender, and just do an investor cash out refi (I know you don't have a loan, but they still call it a refi).

Todays market, use conventional financing and you will need to waive most contingencies to secure a property in DC/Bmore areas.

Has anyone ever refinance a conventional loan into a commercial?

I have four STRs in Boston and there's so much draw to the area due to education, medical, work travel, tourism, conventions, etc. that I consistently had 90%+ occupancy rates for most months.

insight would be nice.details:We live in california and the home is Florida at$115,000Its a conventional loan with 20% down at 4.125% interest

Conventional loan How did you add value to the deal?

Do I apply for financing with lenders for conventional and see if I can qualify (another hard ding on my credit) or do I go straight to Hard money lending/ seller financing. 

When buying turnkey/tiny fixers, I just finance with conventional loan of 20% down.

Had money saved for down payment, then conventional loan.