Why, because I am using the Fanne Mae HomeStlye program as my flip and I have to use a general contractor and a HUD consultant on the flip.

Agents should not be paid more than 6% and this is backed by Fannie Mae and Freddie Mac guidelines.

(Fannie Mae/Freddie Mac guidelines)Thanks

FHA does not require 2 year landlord experience to use rental income on the subject property being purchased or non subject properties (other rentals that are not the subject) , Fannie mae (conventional doesnt either), and freddie mac (conventional) did require this but later in 2015  they also removed this requirement, so pretty much all governmental agencies do not require the 2 year landlord requirement in most cases (some niche programs do) which was usually documented via tax returns (in some rare instances I've used CPA letters or third parties to document landlord experience when needed).

I understand I could get 10 conventional loan according to Fannie Mae and also by my banker.

What it means is that they will normally have less strict underwriting guideline since they won't package the loan and sell it to Fannie Mae or Freddie Mac but instead keep it in house, hence the name.  

Two items of note come to mind – the financing part and the down payment part of your question:FINANCING: Fannie Mae and Freddie Mac will make it impossible to scale if you are doing conventional loans.

If interest rates go down in the next year or 2 I was thinking why lock into to a nice stable but also expensive Fannie Mae mortgage if I am going to refi when rates likely go down to 5%.

Hi,The only lender that I have encountered that has this condition is Fannie Mae and it is only for up to 90 days.

Have you looked into Fannie Mae's new program?