Really asking those who have a limited number of properties.

Most suburban cities have VERY limited lots and most of those are zoned R-1, meaning only a single-unit house can be built.In the City of Detroit, it's cheaper to buy one and rehab than build!

Is the number of licenses limited or restricted?

Full gut renovation, including but not limited to full replumb, full rewire, complete mechanical upgrades, and new apartment finishes from studs.

I started off with the standard turbo tax for 1099s and it felt limited.

there just aren’t many sold properties in the neighborhood in the last 3 months and even out to 6 months is limited.  

.- Lifetime limit: The $10,000 is a lifetime limit, meaning you can only use it once for this purpose.- Taxes: While the 10% penalty is waived, the withdrawn amount will still be subject to regular income taxes.This can be a useful way to access funds for a home purchase, but keep in mind the tax implications and the potential impact on your retirement savings.

Cons - Risks as stated by others, can limit which renters are looking at your house. 

There are a very limited and reliable few of lenders that do true DSCR 2nds.

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).