Do you have a source? Does this mean one could get up to $10mm in housing guarantees? Or does it mean you can buy ten $100k properties with conforming mortgages?
[1] https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announce...
But, if you can use a lease against the house as proof of income that could offset the mortgage.
That’s basically the secret sauce to “get rich with real estate” content.
Edit: it has no effect on savvy individuals because they can always put each new home inside an llc, continually keeping their count low. This is what you would do after 10 mortgages today, though most people would have put the homes in llcs by 10 anyway for other reasons.
There's zero reason for an LLC for own a SFH other than as some sort of tax scheme like you mention. Require that any mortgage on a SFH or owner-occupied multiplex be held by an individual. If you want an LLC to own a SFH/OOM, buy it in cash.
In my state a trust can be an LLC, but it doesn’t have to be. My family trust isn’t, but others are.