Another benefit to conventional financing is that it is usually the only method of financing accepted in a home being sold that is in need of a good amount of rehab work beyond cosmetics (aside from your 203k/Fannie Mae rehab loan program).

Worth.What about Freddie Mac or Fannie Mae backed loans?  

You can get up to 100% financing for the new home, and if the new loan is a conventional mortgage, i.e. a Fannie Mae loan, then you would use the following guidelines in counting rents.Obtain a rental agreement for the property prior to closing on your new primary residence. 

Ah, the age old question of to put it in an LLC and finance it via commercial or portfolio money or to hold personally and get a Fannie Mae loan?

Thank you very much.Property is Being Sold Subject to HUD Guidelines 24 CFR 206.125This property is a Fannie Mae Reverse Mortgage REO.The code above allows an heir to purchase the property at 95% of the listed price.Other stipulations of this type of property include:Property cannot be sold below appraised value (LIST PRICE)No mediationNo electronic signaturesNo repairs, “AS IS AT TIME OF CLOSING”No buyer closing costs paid by seller are allowed on the HUDBuyer pays HOA Doc & Transfer FeeNo utilities are on.

@Scot Howat There conventional loans such as Fannie Mae HomeStyle Laon you can use for Fix N Flip.

Also, if you're a 1st time buyer, the Fannie Mae homepath program lets you pick up a reo that you owner occupy, plus there's a 2 week wait period before non-owner occupying investors can bid.

I had actually read about a newer loan product recently called Fannie Mae Homeready .

Fannie Mae currently does not allow the use of projected hoe income for qualifying purposes, unless the income from the hoes appears on two years of federal tax returns. 

Fannie Mae & Freddie Mac prohibit you from getting the loan in the name of the LLC.