I'm also not sure exactly how much would go to principal yet, I'd imagine more than $200 per month, which happens now before the refinance.From what I have been told by a mortgage consultant, I don't think we would have a problem finding a lender; they assume we would be renting or selling that property and consider it a non-issue.

the latter 2 of the three seem to be challenging.HOWEVER, if that's no longer a concern, the above mentioned are certainly clever ways to get in and worth consulting a local RE atty.

You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State website for all to see.

Be sure to do your research, consult with professionals, and have a solid plan in place before investing. 

I'll consult with the city to see if I can legally do it myself. 

Here are the down payment requirements for this Freddie Mac program;Financing for up to 75% of a home's projected value once completedAffordable down payment options as low as 3% for primary residencePrimary 1 unit – 97% LTV, 2 unit – 85% LTV, 3-4 units – 80% LTVOptions for primary, secondary and investment properties up to 6 financed propertiesOnly allowed on single family residences for second and investment propertiesSecond home – 90% LTV and Investment – 85% LTVThe FHA 203k loan only requires 3.5% down, but it is going to have the high costs of FHA with the upfront and annual mortgage insurance, 3-4 units are still required to meet the self sufficiency rule, if over $35k in renovations you have to have a HUD Consultant. 

Bonus strike four: probably wants lender to help evaluate deal and structure it to save money on accounting, legal and consulting fees.Unduly harsh?

That's why I am calling it a hybrid that follows a model I am currently applying in my consulting company: I call it the expert model where each part and service is provided by experts under a common umbrella that describes common goals.I have not heard about the Howry test but will explore.

As an attorney, I am somewhat biased (hah), but I generally suggest people consult an attorney, if only for peace of mind and, to some extent, tax related issues, as Joseph alluded to.

I would find a good atty to consult with....