Been listed for 5 months for sale, but it's is a land lease now with 29 years left.

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

From my research you cannot sell the mobile home without it being paid off since the land is financed with the home.

The LLC only holds the raw land and it's completely paid for.

What institution is financing the land development and construction?

I base my rents on the condition of the unit and the competition. 

Based on my experience of running properties, even if the build were to cost you as much as $600k but you could generate $125k/year, you'd be very happy with that investment. 

The idea would involve working together to construct a road that provides access to my property.From there, I’m considering developing a 16-unit multifamily project on my land.

Leverage will be based on whether the land is entitled and borrower track record but 50-60% is the norm, not 80%.

A lot of land is sold on owner terms..