When talking to my mentors they say it is possible to still get a conventional mortgage if you provide them extra information like a CMA (Comparative Market Analysis), an ARV (After repair value) assessment or a repair budget.

Since these types of mortgages are not backed by the government like Fannie/Freddie conventional products they rely on secondary market buyers on Wall St. for liquidity.

Unless you have terrible credit or other financial hardships, I would strongly recommend you explore what low-down payment conventional products the local banks and CUs offer.

If you have equity in the home, you could refinance with a conventional loan and then try to use an FHA loan to buy the next (assuming you're OK with the idea of moving).

BTW: try to stick with low-down payment conventional mortgages, if you can.

Right now the SFR are actually more attractive for the BRRRR but there are some MFR’s out there but conventional makes a but more sense.

I’m looking at getting a conventional 30 year fix rate loan.

Talk to a few lenders first as we found that loans for businesses were more expensive than conventional investment property loans, so may be too restrictive, anyway. 

I have met Moe at HomeVestor "we buy ugly houses" conventions.

Some of the terms I remember were: -Up to 75% LTV-Will lend to LLC-3-6 month seasoning period-Choice of recourse or non-recourse (slightly higher interest rate for non)-Asset based lending, and not conventional (loan depends on performance of the asset vs. your personal tax return)The market is currently in an interesting situation (especially in the Greater Atlanta Area where I invest) because although it is harder to find financing options for several of the properties that are now ready to refinance after being stabilized and cash-flowing, those same properties would be selling like hot-cakes on both the MLS and off-market investors.It has me wondering every day.. shall I wait and try to find the pre-COVID terms, or shall I sell for a profit?