They likely won't make an exception.I'd pass on that deal and keep looking.

@Michael Starks, Congrats on passing the SAFE exam and opening up your own Mortgage Brokerage. 

would that protect our assets any differently when I pass away and I were to leave a ton of debt in either of our name?

@Brandon Hall correct me if I'm wrong, but for the 2018 and beyond tax years, the LLC now does make a difference, as it could be subject to additional pass through taxation reduction- as well as needing to make a choice on how the deduct mortgage interest.

If only one person provides the capital but both have membership interests, you will run into gift tax issues.You also want to look at whether a pass-through entity helps your bottom line and your taxes.

@Corinna Gossner , You should not be putting the Triplex in the S-corp for so many reasons that you can read on other posts.The rental income is not subject to SE tax no matter where it comes from ( LLC or Scorp).Both LLCs and S-corp is a pass-through entity, this loss flow to you the same way and carried forward.

It is actually a property that is in my family, my grandfather passed away last year and the property is left to my dad and his two siblings.

Having never done this, that is both intimidating and intriguing as I may have a window of opportunity to get passed the agent and get information straight from the horses mouth. 

did the fees pass through the broker 

Definitely can't go that high but may either counter or just leave it alone and keep watch on it...they may get motivated as the weeks pass.