Just having an LLC is a misconception that it alone will protect you.

There is a huge misconception on BP that you can buy real estate with no money. 

Too many misunderstandings and misconceptions here.

Mike,  A big misconception about this area, thanks to the media, is that Michigan is in Detroit.  

----------------If anyone would like to add on to this conversation or post about any other misconceptions regarding transactional funding, please do post here.

I mention this because the biggest misconception I hear from owners and borrowers is that the bank or county or state "owns" their property when they stop paying their mortgage or taxes or after they surrender it in BK.

R Deschain,You are not wrong to assume that they occur but you may be waiting a long time for it to happen.I think somehow there is a misconception that the only good deals out there are REO's and Short Sales.Anyone who needs to sell in a down market has their value driven down by the sales around them.

Common misconceptions.

I frequently encounter misconceptions about DSCR loans and I suppose that I get a little passionate about the topic. :-)

It's a common misconception that you need an LLC or other entity to write off expenses related to rental properties.