They're a lot harder than the average person thinks.

Other than lending limitations, I can't think of any cons - always better to have clean, segregated bookkeeping and general separation between what is "business" vs. what is personal.

Now the neighborhood only allows three unrelated persons in each house.

The laws haven't changed since 1997- and your personal home 'tax exemption' may be over the limits, due to years of appreciation in the real estate market.

We've discussed the tiny home market for some time as it is what I want to get into personally and have even attended workshops in Boulder and Colorado Springs to further quench my interest.

This is not legal advice, just friendly information.An LLC is like a new person.

It ultimately comes down to your personal preferences.

First thing to understand, St Cloud area has a significant % point of rental units too ownership far above state average, with that knowledge at hand know regulations were far more relaxed for some time, and than a few persons came into the market and took advantage of that freedom and in short created a situation that forced the city into action, it's just that simple.

If you property manager still says No maybe because they dont’ actually know the process they are relying on another person in their team to help them out.  

The bottom line is you shouldn't use any of these strategies without proper education or hiring a competent person to guide you AND you should have the ability to reposition the debt IF the sellers lender calls the loan due.