Several years ago I purchased a primary residence which later became a rental. It was a conventional loan with 5% down. Is there a way to turn the title into LLC? Currently it is in my name. While it is serviced by one of the major banks the actual owner is FreddyMac. When I contacted them they said there is no way. I do want to be mindful of a standard paying lump sum clause in a contract.
Don't discuss it with the bank. They'll always tell you no because of the due-on-sale clause. If you're comfortable with the risk (which I'd say is pretty minimal) around the clause, contact an attorney to discuss your questions.