If you're going to keep it, make sure you have your long term financing locked up as well taking into account the Fannie Mae 6 month seasoning rule to use the appraised value vs the purchase price.Best of luckStephanie

Freddie Mac, Fannie Mae, conventional loans, commercial loans, etc.

@Justin Turner There are many guidelines that Fannie Mae puts out and those can and do change over time.

Fannie Mae small loan program.

ET Homeowners soon will be able to count income they earn from Airbnb Inc. rentals on applications for refinance loans.A new program -- expected to be announced on Thursday by Airbnb, mortgage giant Fannie Mae and three big lenders -- will allow anyone who has rented out property on Airbnb for a year or longer to count some or all of that money as income.Refinancing can be a way for a homeowner to tap home equity for renovations, college tuition or other big expenses, or to reduce their monthly payments.Lenders have been tougher on income from side businesses and part-time work since the mid-2000s, when poorly documented income claims on mortgage applications helped fuel the housing bubble.Airbnb, which launched in 2008, argues that its service includes reliable technology to track income, and that it is helping middle-class Americans stay in their homes by giving them a way to generate additional cash."

You could use your own cash to acquire property and then use hard money to get 80-90% of your original purchase in cash back at closing and finance the rehab, too.In regards refinancing a property held in LLC, this is NOT possible if you go through conventional lending (Fannie Mae or Freddie Mac), however it's very common to refinance property held in LLC in the unconventional lending world.  

I am thinking that I can take down a small multi family locally, something less than 20 units.My original plan was to first buy two more duplexes to max out my Fannie Mae 10 mortgage limit, and then get into true multi family, which requires commercial loans anyway.

Standard Fannie Mae loan Lessons learned?

Generally speaking, residential loans are better than commercial (unless you get to really big apartments and Fannie Mae products and the like).

How can we structure this so that we both get the benefits of tax deductions while still leaving open the possibility of getting 4 Fannie Mae loans each (for a total of 8)?