Future Appreciation: Holding onto the property allows for potential appreciation over time, especially since it’s in a neighborhood with homes ranging from $500k to $1.5 million.Pros of Renting: Steady Cash Flow: Renting the property, especially with an ADU, could generate substantial monthly income, especially since there’s no mortgage.

This would be for long term holding.

I can pay utilities, insurance, and other holding fees but I won't have enough to pay other cost like listed above.

If something makes sense to hold for 10, 20, 40+ yrs I say go for it.

Structurally, the property is in pretty good shape EXCEPT one problem that I cannot properly assess: the plumbing will not hold pressure.

I'll work with an attorney to assist with drafting that.Q2: Yes, I'll talk to my CPA but we'll most likely hold the property for at least 1 year under the LLC given our timeline to design, permit, build and sell the property, meaning I should avoid short-term capital gains.  

Since I’m holding these properties for the long term (30-year loans), I’ll have fully paid-off assets around the same time I’d traditionally start withdrawing from my 401(k).

Investment Info:Single-family residence buy & hold investment.

Quote from @Stepan Hedz: Selling fees (estimate), $30,000, and holding costs?

these rulings over the last 10 years have eliminated much of the angst seen around the "hold for investment" issue mentioned above.