My company does the following:• Free and simple MLO Licensing (22 hours online or in person and you choose your schedule)• Mortgage team to handle the backend (meaning, no structuring, underwriting or processing loans) • Competitive mortgage rates backed a company with 20+ years in the business• Downline revenue stream on the lending side (similar to EXP model.)• They do not have to change brokeragesIn my mind, there aren't many cons to this.

But they definitely heard a story from another person that never owned one about how expensive it is. 

But, that is not always the right answer and you should speak with someone familiar with your personal situation to get advice specific to you.

Does anyone have experience transferring a rental property to an LLC from their personal name?  

If you intend to do the rent by room strategy the ideal situation is for each guest to have their own bathroom or, at the most, to have to share it with one other person.

I personally like to stay in mine for 3 days atleast while I setup to know my properties more intimately and to work out the bugs which would be problems for guests.

I've closed 3, so definitely not the most experienced on the Commercial Side, but in my experience a lot of these Commercial Lenders want to see a Personal Financial Statement.

If you personally reach out to an off market property, the seller may say they will not pay your agent, leaving the compensation up to you.

The reason I am selling the Condo is to pay off some personal, and unexpected debts of about $18,000 to decrease my DTI to help me qualify for my Dads VA loan (they want to move to Texas), which is a 3BD 2BA single family home. 

Just wanted to bump this as I am going to start valuing my small property management business (maybe 10 doors total) to include it into my personal net worth calculation.