Trying to cover all eventualities...

The property is in California, so the children will get the benefits of a locked-in property tax assessment value that is at least half of similar properties ($27k), and when the children do sell, they will get a step-up in cost basis for ~$1.6M on the eventual sale.  

Eventually these children will move out and there will be only one or two adults in the home. 

Eventually they will move anyway so why put up or deal with someone who wants to go.

I recently set up an LLC to manage and eventually take ownership of the property as soon as possible but I am assuming my lender will not allow that without refinancing with a higher down payment/interest rate.

Definately my end game would be to eventually own rental properties.

We eventually moved. 

A lie from the seller started the whole thing, which we eventually were able to prove, at least to the satisfaction of the judge.

We are wondering how we could best maximize our return on the property- either by partnering with a developer to eventually share returns or hiring a developer/general contractor/house builder ourselves and managing the project ourselves. 

I'm sure eventually some of the technology in development around here will reach headlines.