Common misconception that an FHA loan is only for FTHB.

This is a misconception. 

So many landlords have misconceptions about what a PMC does and doesn't do.We often have to remind our clients to review their management contract when they ask us to do things, because they are not included.EXAMPLE: getting multiple bids for repair work (not regular maintenance) is one thing, expecting your PMC to analyze the bids for you in depth is NOT a standard service.

There are other common misconceptions people make when finding their own comps.

That would clear this question up for you.But basically there is a misconception between first time home buyer program and FHA loans.

There might be a little bit of an identity misconception in the OP.All Notes are forms of security.

I presume single family (or duplex, or triplex, or quad).A conventional mortgage will have much better terms than a bank loan, so most people only go to commercial loans for some other reason, often because they have 10 conventional loans already.You also have one misconception, which is common, since most mortgage brokers only know how to provide mortgages for owner-occupants.  

I could write on these for hours, but I wanted to clear up some misconceptions. 

Their are lots of misconceptions of AP, especially on this site from non-lawyers and those who do not specialize in this field.

Just keep your property in good repair and have insurance including maybe an umbrella policy.You might want to read this post about LLC's misconceptions:  https://www.biggerpockets.com/...Read this one about "frankensteining" your TItle and mortgage:  https://www.biggerpockets.com/...Also, if you rush to switch to setting up a LLC, is your financing prepared?