There's no current loan on it right now.Given that the investor is a family member (that's how I'm reading it), buying the LLC will "save" you money from buying the land yourself as there won't be any closing/transaction costs.

Nobody likes being left in the dark when you’ve got money and time on the line!

This lesser-known strategy could help you save money and reduce your monthly payments without the hassle and cost of refinancing.

If things ever return to "normal", I'd fire sale my shiz and leave that arm pit. 

Now we are mostly scaling our business with larger communities but I've used many different creative finance strategies including seller finance, private lending, hard-money, collateral from other properties, and lease-options. 

Would like to get that money back out in 6-12 months.There aren't as many smfh available near me right now. 

I'd recommend listening to this episode of BiggerPockets Money and then using the linked spreadsheet to help you decide https://www.biggerpockets.com/blog/money-572

I would, If in this position, take the equity in the form of a HELOC and purchase a cash flowing asset that would not only pay for itself but pay for the cost of the money while putting cash into my bank account each month. 

The tenants have their own W/D so I can’t make money off that.

We value the opportunity to work with clients and partners in the real estate community.To address @David Ramirez' suggestion, if any title issues are found, the earnest money is fully refundable.