I only ask because the main purpose of an LLC is legal protection, and if you don't have a large amount of assets to protect, say less than $1M...you may be putting the cart before the house, and it may make more sense for you to focus more on finding and closing more deals.

Generally a "local" lender may just have more restrictions and even though they know the area, that's really what a great realtor and PM should be able to inform you on.

If you care to learn about the distinctions, read these posts:https://www.biggerpockets.com/forums/517/topics/1215989-expl...https://www.biggerpockets.com/forums/51-tax-legal-issues-con...2.

Realtors often claim they're restricted to Realtor use, but that is incorrect. 

I can't remember exactly, but I believe the main ones had to do with additional parking restrictions and water.

If that does not go in my favor I may need to seek legal counsel.

I am going through the regulations and restrictions in that place (not a closed community but there are some rules).

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I have a legal question about a contract I have with a wholesaler and the $5000 EMDI was under contract for a property that I learned had liens on it..... it states in the contract that title must be marketable and if not, then I would get my EMD back.....

Then in 6 months refinance into a conventional loan and you can exit the property legally.