@Leron Horn - The purpose of portfolio loans is that they don't have to meet current FNMA guidelines for conforming loans - so each bank sets their own guidelines when keeping loans on the books.FNMA guidelines stipulate that you don't have to be employed at your current job for 2 years, but you have to be employed in the same type of position / industry for 2 years.  

It should indicate the loan term (2 year balloon) along with the loan amortization (typically comes in 5 year increments ranging from 15-30) or stipulate that it is interest only (meaning no principle is paid down and entire loan amount due in 2 years).  

I will stipulate that I am not yet an investor (I was just introduced to BP & am researching the possibilities) but I do live about a mile East of Lincoln High School.

The main trouble I'm having now is just finding a home in my price range that matches the stipulations handed down by the USDA.

The stipulation is that it has to be for a primary residence, not an investment property, with the exception of a residential MF that you live in one of the units.

As far as that goes, my understanding is that since this is an FNMA loan, which provides for that exemption as part of the delayed financing stipulations, it shouldn't be an issue.But, I guess my question is more to what liabilities I might be exposed to by buying in my personal name, refinancing, and then deeding it over to my LLC (1 move) vs. buying in the LLC's name, deeding it to my personal name, refinancing, and then deeding it back to the LLC (2 moves).The one thing that came to mind was title insurance.

I agree with the others who have stated that all of these wonderful ADU laws come with the stipulation the ADUs be used for LTR only.

Is this true and are there any stipulations or requirements I should know about to do this?

Do you have a contract with the owner/seller stipulating that you had the right to make improvements to the property before you took title?

So I was looking for a good loan for the rehab portion that didn't have a 6 month stipulation.