Some however will want a disregarded LLC, while other will have no problem with partnership LLC or Corp.You need to shop around as each bank has its own requirement and that can change with time.A few years ago when I was looking at a LOC for one of my property, I made a list of over 50 credit unions, local and regional banks and major banks in my area and made a spreadsheet of all their LOC products.

Not doing this can result in fines, and, worse than that, the LLC can be disregarded in a lawsuit if it is doing business in the State without being formed or registered to do business in the State.

For investments in US real estate, US legal counsel often recommend the use of disregarded limited liability corporations (LLCs), which offer both legal liability protection and flowthrough treatment for US tax purposes.

LLc’s are almost always disregarded entities so it will also show up on your personal tax return. 

It got me wondering if there was a sound strategy for handling a shared title and mortgage in a divorce case such that at least one partner could be removed from title and have the existing mortgage disregarded in a debt to income evaluation.

I just don't understand why someone would just disregard it because it's on the mls but then again I see people sending out mls listings as off market deals all the time and acting like it's some great deal!

@Natalie Kolodij  I think your confusing the right to discriminate if you OWNER occ a one to fourso if you have a 4 plex and you live in one unit.. you can disregard the HUD rules.. although the state may have a rule that you must follow.

If you have month-to-month leases, they will likely disregard the income.   

Form a disregarded LLC or multiple ones to hold title to your real estate so that if a lawsuit occurs, the LLC will be the defendant rather than you.

The latest advice I was given was to have a parent LLC and elect to have it taxed as a partnership, with separate disregarded LLC's for each property.