Our town/county is pretty strict on multi family owners but much less ridiculous on the sfh landlords. 

Or does it even matter, if I have an LLC strictly for REI. 

So it's strictly long-distance real estate for me.I've been thinking about getting my Real Estate license.

The city I live in is strict about their FAR requirements.

That being said I know these contracts can be very strict regarding the length of occupancy, but IIRC there was a BP podcast a while back (~ 2 years maybe) where someone said they got a contract for 6 months.

However, on your primary home it will be more strict as there are a lot more federal compliance rules involved. 

I've also seen people use a clause stating something like "will pay "x%" above max offer with a cap of "x" amount" which can give you a better shot if you were competing strictly on price but don't want to have to go above and beyond your range.

@Tom Starlin From an strict investment perspective, these properties are dogs and all stars at the same time. 

I live in California and have a "professional renter" (he is very knowledgeable about the lease and laws and acts strictly within those bounds - I perceive him to be a potential lawsuit threat) in my rental property. 

The Division of Real Estate has very strict guidelines in how that money is handled.