And if you dont actually do that, as @Matthew Paul said, the Baltimore States Attorney was just arrested and convicted of mortgage fraud for not meeting occupancy requirements of a loan for a property on a short term rental.

Legal entities aren't eligible for conforming loans. 

The refinance itself, will be treated as a loan purely to be paid back by the LLC over time.It is best to speak to a CPA or Lawyer pertaining to this first and foremost to properly discuss the private details that should not be shared online. 

In our market, it's better to pay 30% down to secure a loan.

We leveraged the land and got a bank loan for $1.6 Million.THESE DEALS ARE OUT THERE!

One caveat: doing this created a situation where it was difficult to get loans because one of our LLCs is a "checkbook IRA"- seems the nonrecourse lenders mostly don't like having a non-IRA partner involved.

We have no problem with 1-4 units and know how to finance larger complexes (anything with a loan product larger than 1MM). 

I just recently purchased my first home for $505000 with an FHA loan.

With $30K as a first time home buyer, you can put as little as 3% down with conventional loans up to certain loan amounts.

I’m assuming you can only have 1 second home loan at a time?