I couldn't prove it who did it, so I dropped it but gave both sides a stern warning that they would both be hit with the fee if it happens again. 

@Paul DeSilva:@John Leavelle and @Anthony Gayden (above) are both correct.Unless you have more than 10 residential mortgages, or the properties are above the jumbo mortgage limits or you're trying to finance the the properties with the LLC intact, then they should qualify for conventional residential FNMA loans.For the LLC situation: my strategy is to close the loan under my personal name (no LLC), then after a few months of "seasoning" to establish on-time payment, notify the lender that I plan to drop the property into an LLC strictly for asset protection purposes.Many seasoned pros will tell you that you don't even have to notify the lender that you plan to do so, but will warn that doing so runs the ever-so-slight risk that they may actually call the entire loan due immediately.

At the end of the day the high real estate taxes, which is definitely the biggest warning I think I've heard, is just a number to factor in - so if the numbers still work it's a good deal either way.Good tip on the flipping being a better investment than renting in Illinois - something to keep in mind if I do start looking seriously over there.Always appreciate the input.

I'm an attorney and I am just warning you it's potentially more severe than a speeding ticket.

Fair warning it's sort of long.I've been hosting an Airbnb room as a hobby in my primary residence for several months now.

But, as a courtesy, I specifically warn about a constantly running toilet and the financial havoc it will cause on their water bill. 

Here is another update:By Ben van der Meer – Staff Writer, Sacramento Business JournalMar 8, 2018, 2:33pm PSTOver the last few years, as Sacramento has emerged as the top housing market in the country for year-over-year percentage rent increases, housing activists have warned there would be a backlash.That backlash has now taken shape in the form of a proposed rent control measure, with advocates gathering signatures to try to place it on the November ballot.

Congrats on having a go, and for the cautionary warning to others. 

@Omar Khan thanks very much for the warning on the bidding war, I won't fall into this as I'm sticking with a max $400K budget.

At that time the ex wife warned us that he was bad at managing money and would likely get behind on rent.