There are limits as to what may be done with land in trust, additional burdens on how that land is handled, and the overhead associated with placing land in a trust.Before doing a land trust, consult with a financially minded attorney in your area.

I would love to max out my available mortgage limit (5 properties) but I think Ill be lucky if it get one!!

@Rene Pennington The Auto policy has a "Property Damage" limit in the Liability section. 

Any properties are fine . i  like damaged or properties in bad shape because of limited funds.

You have limited upside potential in this deal and unlimited downside.Can you get a permit for the renting of the other units?

And there is a finite limit to the number of units you can manage yourself so you will hinder your future growth.

@Mindy Jensen, an LLC (Limited Liability Company) by definition is intended to LIMIT the owners personal financial liability, but NOT to eliminate it.

I NEVER took vacation in the summer. but I usually took from thanks giving to first week of Jan. off or very limited schedule

Still could get nailed but since you should be under the deposit limit it could have been worth the chance.  

Hello BP, so appreciation in condos is slower compare to a single house & it is true in my areas but because of the limitation in purchasing other type of properties, i had very little choice if i want to do a syndication on multi family units.