We have 12 properties so far, 3 of our properties are financed with private money, not on our credit etc. we keep hearing that the limit for traditional financing is 10 properties but I haven’t heard anyone elaborate much on it in the hundreds of “brrrr strategy” podcasts I’ve listened to, has anyone here actually ever been limited to the 10 properties rule?

If you're going with the traditional banks then it's not really a 2 year rule of receiving rent, but more of a 2 year rule that shows you receiving (and paying taxes on) income from the rent on your tax returns. 

One company owns everything and does nothing (this is your SLLC a/k/a “asset holding company”) and a completely separate company handles all of your operations (this is a traditional LLC a/k/a “operating company”) For the operating company which serves as your face to the world and through which you do all your business, you establish a Traditional LLC to carry out the operations of your investments.

@Frank FaustUnless your paying cash, you may have a problem with a traditional lender, but the saying goes “Mold is Gold”.  

I have only talked to a couple traditional institutions such as Wells Fargo and CIT bank and both had 6 month seasoning periods for a 75% LTV cash out.

Any suggestions on how to find a 3 bdr/2ba outside of traditional channels?

Compared to an IRA, Solo 401k contribution limits are roughly ten times higher.The Solo 401k will allow you to take participant loans while the IRA does not.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)

This is no problem when using traditional finance as they provide you one after you are pre-qualified.

You can also find lenders where you can do Fannie May 30 year notes in personal name and transfer to LLC at closing without triggering the due on sale clause in most traditional banks.

Therefore, getting a traditional mortgage has been a dead end.I know about hard money lender’s, but I’m looking for a long-term investment no flips.Any advice?