I know that everyone is oversold in putting their asset on LLC, but there are some strict rules you have to follow to actually get the desired asset protection. most of the small business dont follow unintentionally. 

You broke the first rule, Calvin.

As a general rule, you want to use an S-corporation.While liability concerns are an issue, that is not the main reason I am saying to use an S-corporation. 

the Underwriter will ask this question to make sure you're not accumulating investment properties through initial OO interest rates. 3) Lastly, if the property is within the same neighborhood or nearby your current residence, you will asked by the Underwriter to justify that the additional purchase is the same area is not an investment property, this one is easy, just make sure you're either buying a larger property and say your family is growing, or if you're buying a smaller property than what you currently live in just say you're downsizing to a smaller home and they'll be satisfied with either answer.

Fees should be clearly stated, easy to understand, and justifiable.

They tend to be a little more lax with their rules and requirements. 

s suggestion to discount rents by 10% to "justify" the rent increase. 

One rule of thumb I always tell agents is to speak to your broker or agents within your own brokerage.

For instance, one property may meet the 2% rule (monthly rents = 2% of purchase price), but the owner may be paying a lot of the utilities.

To keep this post shortish I won't get into the details of how I justified doing this deal but everything else went well until 2 weeks before closing.Two weeks before closing, I get a call from the lender that they have some changes that need to be made to the appraisal that The Bank made on the house, but The Bank didn't have access to it anymore.