You can read the debate ad nauseum here on BP about whether you should move your 2-4 units into LLC's.

@NedCarey - You bring up valid points and why as we’ve debated with the options, we’ve come back to selling.

@Steve MaginnisI did rehab a 1930 duplex about an year ago and had the same debate.

I'd like to hear other opinions on this...I'm debating if I should cash in on my 3 flat in downtown Wheaton, IL.  

Still debating my plan of action but thanks for the advice.

But I’m debating on the stove since one burner is out.

Crash calling is fun and can make for some lively debates but it's sort of an exercise in futility because ultimately the market will do what it will do without regard for what any of us say or think.  

And I appreciate being shown to be off or wrong in the spirit of informed debate and intellectual honesty.

I have sufficient funds for a 20% downpayment, but am debating if it might make sense to use an FHA loan only and put 3-10% down instead to keep some funds available for seeking out future deals.Loan would probably be in the $400k range, which means3.5% = $14,00010% (MIPS for 10 years) = $40,00020% (no PMI) = $80,000Of course I'd take the 0.88% PMI hit by going FHA which really annoys me given that interest rates are rising already. 

In an average year, the water bill comes to about 1k annual of which only about $160 is actually water, so I have debated including it in the budget because the numbers overall are easy to estimate and it eliminates a step.