definitely split the lot would be the highest and best use I would assume and sell them off individually 

If you have rental(s) or plan to get one and want to decide between long/mid and short-term rental strategies taxes do play a roll if you have high W2 income you want to try and reduce you tax burden. 

How certain of the appreciation are you would also play into that question.Run some scenarios on what you could do with the extra cash vs what you stand to gain from the appreciation play and decide based on that and your goals.

We recently did a loan involving a borrower with a mind-numbing operating agreement involving nested LLCs, retirement plans, and individuals. 

I recommend setting up keyword alerts for each area as they are discussed in the forums daily with advertisements posted in the BiggerPockets marketplace hourly.One thing to note when looking at the individual markets, you can make or lose money in any market.

Specifically:Share your experiences investing in Knoxville.Recommend resources or tools for market analysis.Help me find off-market properties, turnkey rentals, or connect with wholesalers.I’m eager to learn from this community and collaborate with like-minded individuals familiar with the Knoxville market.

That will play a factor for qualifying.

I played collegiate football at Montana State, where I learned the value of discipline, teamwork, and persistence—skills that I now bring to my journey in real estate.

It's easy to play the what if senario over in my head over and over again, but I've shifted from "What if" to "What's next"!

Hoping we get the 100% back but reasonable to still get the 40%.also, can an individual/LLC have more than 1 property per year that they can do the bonus depreciation on?