Hard money loan refinanced to conventional?

[Ryan Dossey]

I have searched as well as dug through some of the threads trying to find an answer to this question. If this has been answered feel free to direct me.

As a new investor/just starting out I have a few questions regarding HML's. I plan on starting with a multi-family property. If I do not have the 20-25% down required on a traditional investment property loan can I go HML? What percentage do they normally require upfront? Also the plan would be to refi to an investment property loan ASAP. (I have heard 3-4 months?) I may go the FHA route however I have a signed lease till OCT 2014 and looking to get my first property before the end of summer. I know that I need to speak with a mortgage agent but can I get qualified before hand to make sure I will have a clean exit? My plan is not to flip but to buy and hold.

While I'm aware trying to find a seller willing to do seller financing may be more beneficial I am trying to understand all of my options.