At one condo development where I owned property, they did not exceed the rental limitation, but none the less were not certified for FHA financing. 

Soon I'll be purchasing my first ever investment property (Virginia) (MFH) and I honestly feel like I made a mistake.

I'd be crazy to sell the 28277 property because of rate, location, and appreciation.

Look for distressed properties or FSBO signs.

If the LLC owns a property in a different state, most of the time, the other state will require you register your LLC as a foreign LLC. 

Put yourself in the shoes of an investor: is the property in a good market?

We don't want to bring on every owner or every property unless they fit within our target market, so, I do the far majority of the sales - this is our check and balance.

Purchase price: $115,000 Cash invested: $42,000 Sale price: $168,000 Unfortunately, we bought this property as a buy and hold property, and our research led us to believe that this neighborhood was up and coming not in a bad area of Jacksonville.

If you are living there you can keep the 4% rate.If you are not living there you can rent it out to pay for the property taxes. 

@Justin Brin Yes, you can elect to aggregate your rental properties for Qualified Business Income (QBI) purposes, but once you do, you must continue to aggregate those same properties in future years unless there is a significant change in circumstances (such as disposing of a property).