Single Asset Entity for Fannie Mae Loan

[Matt Kvalheim]

Hi All,

I am refinancing a 26 unit apartment building in Idaho with Fannie Mae. I chose to hold the asset in my name and get a ton of insurance, umbrella, etc. But, with the refinance, Fannie Mae is requiring that I hold title to the property in a single asset entity (mostly likely they prefer an LLC). I live in CA though, which is going to make this expensive.

Do you have any options other than an LLC that might work for my situation with Fannie?