Compare wholesale credit-shelf acceptance, purchase and cash-out LTV caps, non-recourse bad-boy carve-outs, and closing documentation across 6 real estate investment vesting structures with Stephen R. Mannenbach, J.D., MBA.
1–4 unit DSCR rentals, STR/Airbnb acquisitions, and rapid 10–14 day closings.
Must be registered or foreign-qualified in the state where the subject property is located prior to closing.
Can close in a newly formed (<24 hours old) Special Purpose Entity (SPE) LLC with zero entity seasoning.
| Entity Structure | Shelf Acceptance | Max Purchase LTV | Max Cash-Out LTV | Guarantor / Carveout Rule |
|---|---|---|---|---|
| Single-Member LLC (Disregarded Entity) | 99% of Wholesale Shelves | Up to 80% | Up to 75%–80% | 100% Managing Member Personal Guaranty (or Non-Recourse on 5–25u / Qualified DSCR) |
| Multi-Member LLC / JV Partnership (2–4 Sponsors) | 95% of Wholesale Shelves | Up to 80% | Up to 75% | Only Members Holding ≥20%–25% Membership Interest Are Underwritten |
| Series LLC (Delaware, Texas, Wyoming, Illinois, Utah, Nevada) | 38% of Wholesale Shelves (Specialty Desks) | Up to 75%–80% | Up to 75% | Master LLC + Protected Series Designation + Sponsor Guaranty |
| Illinois / Florida Statutory Land Trust (Beneficial Interest Vesting) | 32% of Wholesale Shelves (FL / IL / IN / VA) | Up to 75% | Up to 70%–75% | Trustee Executes Note/Mortgage; LLC or Individual Beneficiary Executes Guaranty |
| Two-Tier Holding LLC + Property Subsidiary SPE LLC | 78% of Wholesale Shelves | Up to 80% | Up to 75% | 100% Look-Through to Ultimate Individual Warm-Body Guarantors (≥20%–25%) |
| Foreign National / ITIN U.S. SPV LLC Structure | 64% of Wholesale Shelves | Up to 70%–75% | Up to 65%–70% | Foreign National Sponsor (Valid Passport / Visa or ITIN; No U.S. FICO Required) |
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