It puts a cap on how much protection purely domestic LLCs can offer.Now, I'm not here to bash LLCs.

You nailed the general understanding of how you can qualify for the next one.

Hey @Scott Lepore - You nailed it on that one, the deals are getting harder and harder to find but they are out there.

Ie it is down to the nails? 

I've come to understand in the past few years that with my current skills there is somewhat of a cap on my earning potential.

I think you hit the nail on the head when you mentioned looking to "value add." 

I took extensive video and pictures when i moved as the house was not, to most people in move in condition, obviously cleaned but very cheap and very old carpet, large areas of rooms that weren't entirely painted weird hardware sticking out of walls, screw holes or remaining screws and nails, several patched but not painted areas, tons of areas with drawing, water, oil marks on the walls (from a centimeter to 1 foot) etc etc! 

If you see nail heads in the long edge grooves you’re likely out of luck.

If an HML covers 100% of the acquisition and rehab, you'll get nailed with high fees and interest.

There is no grace period for rents in Wisconsin and there is no cap on late fees; however, late fees of 20% are presumed reasonable whereas fees above that the burden is on you to prove the fee you charged is reasonable.