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The effective date is supposed to be December 1, 2008 but you'll probably see that many of those remaining true Fannie lenders will change within the next 30 days.The changes will include:* A limit of 4 financed properties when submitting an investment loan.Fannie also clarified that it does not consider the borrower to have an ownership in a property that is held in the name of a corporation, even if the borrower is the owner of the corporation.

I really don't want to join the rat race and work a corporate 9 to 5 job that has people struggling and sucking up to middle managers.

In that case, each owner would become just like regular people who actually own their home, not a share in a corporation.

The IRS is pretty clear that you cannot rent from yourself or your spouse and I think a judge would look at the asset as clearly a liability protection scheme (aka not running as a legit business), pierce the corporate veil, and not provide you any protection.It's fun to start LLCs, but it's also expensive and time consuming to maintain properly (separate accounts, K-1s, 1099s, accountants...) just to provide liability insurance.

So, if it is "OK" for the government to ABANDON "ethical" principles of finance, and it is "OK" for Business (Corporations, etc, both small and large) to ABANDON ethical" principles of finance, then how can you possibly expect the individual "consumer" to play by rules which ALL FORMS OF BUSINESS are discarding in droves, in favor of the loopholes provided by government?

I think, with the scrutiny of the world upon them, they (banks and government oversight) will wake up and smell the coffee and perform as admirably as the Home Owners' Loan Corporation (Depression era) and the Resolution Trust Corporation (savings and loan crisis).

I'm planning on having properties in LLC groups owned by a corporation, my hope is that it will limit liability to each properties.The biggest thing i've learned in the past year and a half has been underfunding investments, our apartment complex has cost us greatly from unexpected repairs, thankfully this secured line of credit will allow us to have more than 10 times the expected ammount(s) to rehab each property per time.

I am having trouble figuring out how to try and secure a legitimate corporate veil!

Huge corporations like GE or governments -- state, county and city -- rely on liquidity in the credit market to grease their wheels.