But, as its mentioned above, legal entities aren't eligible for conforming residential loans. 

Bought a 3 flat + non conforming last year in Wicker Park and this year was able to get a 2 flat and rehab it in West Town.

Storage sheds that are stick-built or assembled from kits here must conform to the Zoning setbacks and height restrictions, and some jurisdictions require sheds more than 10'x10'x10' to conform to wind loads (hurricane straps, etc). 

The term you are looking for is "non-conforming".

Offer much the same protections, conventional conforming loans can be done to them, or you can just get financing in your own name, then transfer title to the trust (which is protected by federal law).2) I know all about tax depreciation and what not, but what is the biggest difference in taxes when a property is in a LLC vs personal nameLLCs are usually pass-through entities for tax purposes, so they don't really affect the bottom line. 

But, this is all dependant on your personal finances.Meanwhile, both loan products (well, and conforming loan with less than 20% down) required owner occupancy. 

There are always county taxes whether it’s in the city or not.If it’s zoned SF you have a non-conforming use.  

@Nathanael Rojas, the "10 loan" thing is only a limitation if those loans have been sold to Fannie/Freddie and you're trying to get additional conforming loans.

What are the main differences between a Non-Conforming Loan and Portfolio Loan?

@Joshua T. it’s usually because there are repair issues and the seller knows they will cause the property to fail an FHA appraisal/inspection (and isn’t willing to make those repairs).It could also be that the seller just doesn’t want to deal with an FHA inspection in general since it’s another potential road block / hassle to getting the deal done.That’s because, in addition to the regular property inspection needing to be OK with the buyer, there’s essentially another inspection needing to conform to FHA safety etc. standards to make the bank happy.