Dodged a bullet.

Some notes to your bullet points:- Freddie: This sounds like you are talking about Home Possible (a Freddie program for first time home buyers and targeted areas).

Jonathan, these are just a few bullet points of the most important items that comes to mind but, after you get it down it shouldn't take you more than 10-15 mins per property.

So, at no point will you be able to get a conventional loan with title in LLC.If you want a loan with title in LLC, then you will have to bite the bullet and get a portfolio loan.

So, I would just bite the bullet and pay California the tax.

I would love to see the tenant owning at least one of the properties - and the more the better - that's almost a silver bullet.

@Justin R.Can’t say I’ve had to deal with it personally but gifting or selling a part of a property comes with several implications: how to take title, right of lender to call the loan, right to partition, gift tax, property tax reassessment, capital gains, etc.Also, I’m not sure how accurate that link you attached is with regard to the current law but your 2 bullet summary above seems to leave out some other options.

Bullets are a little harder to recover from.

Call an electrician and bite that bullet.

Bite the bullet now, and reap the benefits later.So, etiher way, it can work.