I am assuming if ALL are rented section 8, they all should be already conformed To add value I would suggest to explore subsidizing opportunities, for example, can you turn 3bdrm into 2bdrm and 1bdrm, legalize it and rent section 8? 

@Olu OdumLegal entities such as LLC's are not eligible for a conforming residential loan. 

But, my layman's recommendation would be to refinance with a commercial loan (legal entities are not eligble for a conforming residential financing) to obtain the full limited liability protection of the entity. 

in general, you don't usually transfer a conforming residential loans. 

On purchase, you won't be able to take Title by the LLC if you plan on using a conforming residential loan. 

You might need to find a more experienced/savy mortgage lender, but the criteria for a conforming residential loan are pretty fixed. 

@Aaron AlsupPre-COVID, the minimum loan amount for a conforming residential loan I believe was $50k. 

Conforming residential loans have a lower limit. 

Go to your local CREIA and talk to hard money lenders and other investors about non-conforming loan opportunities.

Its just what you guys are doing with the funds...Conforming residential loans like the FHA require owner-occupation and Title be held by a person, not a legal entity.