Conventional Loan How did you add value to the deal?

You would have to refinance that property to a conventional loan in order to use FHA again.

The property's location is ideal for short term rental (Orlando area theme parks and convention centers.)How did you find this deal and how did you negotiate it?

The 20% down with a conventional loan also gave you a great start with lower monthly payments, which helps when maximizing rental cash flow.Regarding the lesson you learned about letting the seller take advantage of small asks, it's a common challenge for newer investors.

So if you end up needing to sell it in the future, would be a hinderance since it would eliminate FHA buyers all together + even some conventional buyers too. 

I'd like to access this equity through a Home Equity Loan (HEL) and use it to make downpayment on another investment property purchase (12 unit bldg).I bought this 4-plex in my personal name with a conventional mortgage .

If you go directly to the bank they will run you through the qualification process just like getting a conventional loan.

You convert your hard money loan and refinance into a conventional loan and get the uptick of your renovation on the home value.

@Luke Davis If you can qualify for a conventional loan that is probably going to be your best bet.

Purchase price: $480,000 Cash invested: $24,000Purchased using a 5% down conventional loan.