I had another opportunity come up that is work from home, but the job is contract with less pay and wouldn't be able to help me qualify for a conventional mortgage.

The owner occupied reduced down payment program on conventional mortgages can be repeated over and over. 

If we purchase the next one through the LLC we will be looking at non- conventional financing/higher downpayment %/higher mortgage rates/difficulty finding lender.I am wondering if anyone has any experience in small member LLC's like this for investment properties.

I feel like that would be my best plan.I have plenty for a FHA down payment or even a conventional 5%. 

we did a 15 year conventional with money we had saved up for a down-payment.

So, what is the difference in rate and complexity between conventional mortgage which is on individual's name v/s mortgage on LLC name?

They perfect for your situation.But the truth is it's not going to be worth it to refinance until you can qualify with conventional loan.

To refinance a property with a low conventional rate you basically need: good credit, stable income on IRS taxes in past two years, equity in property that meets health and safety codes. 

Hey Biggerpockets community,The question is pertaining to a multifamily loan down payment on an FHA vs a Conventional. 

If I wanted to buy in my desired areas I’d need a bigger deposit on top of the FHA loan limit, in which case I’d just go down the conventional loan path.