It's probably the best way to get started and learn what it's like to own properties while gaining equity and limiting your living expenses.

Might be a way to get some cash quicker or maybe get a buyer for the land quicker if you can show them they could pull 1k an acre by having someone come clear cut the parcel after they buy it.The local population seems very limiting too.

Your WY LLC can be beneficiary of the trust, giving whatever liability protection that offers.

In my limited experience with HML, it was something like 2% loan fee and 12% interest on the FULL balance.  

Stats are all over the place.I will say that I think ours are more accurate due to the limited number of STRs in our area.

Like @Sarah Miller and @Marcy Albrecht said, you can buy places within the city limits but it's still about location. with that said, i'm always looking out for my end game. one of the issues with buying in certain parts of canton is that when you decide you're done, you may not be able to unload your properties.

By this I mean the liability event that has you so concerned. 

If you are looking to just obtain the 25% redemption rate set by the state for properties that are limited to 6 month redemptions.

This can be conventional or DSCRB) Conventional cashout refi - will need at least 6 months on title if no mortgage on the property (I think - going off of memory), 12 months seasoning if there is any kind of mortgage/lien/loan with the property; will be based on improved LTVC) DSCR cashout refi after six months of seasoning (most cases), and this will include any improved value of the property in the LTVMost cashout refi's will be limited to 80% LTV.

It also becomes more difficult to separate out construction related liability when there's one partner who is responsible for the construction management.