My long term goal with investing is to move over full time and be set free from having the conventional JOB.

@Chris Billington Why not doing conventional 30 yrs loans to pull out the equity?

The key is the inventory must keep moving.We spend our own money to lock these properties in.

I would try local banks, who hold their own paper for a year, before you give up entirely on a conventional solution.  

Here's another article about the January 2016 sales in Memphis.For what it's worth, I just spent the day (Wed 2/10/16) driving around town looking at Class A and B properties with a CA hedge fund and was shocked by the lack of available inventory for sale.

Perhaps conventional is my only option here, but then I will wait 6 mos. to save for the down.

Lane Kawaoka  I am not involved enough in the conventional lending business enough to have any clue on this.. my hunch is though I don't see it rising..

ok here are my numbers on the 120k prop for an fha, may wind up going conventional but we haven't discussed all options yet.

Get tight with your go-to lender about what will happen if suddenly all your rental income shows up passing through your LLC showing up on Schedule C, and not Schedule E, if you use fannie/freddie conventional mortgage loans, and not hard money.

She is saying that she needs about 2-3 years to get her credit in shape so that she can refinance into a conventional loan down the road.