Is it possible to keep my land loan out of it to keep the total cost low?

Assuming these are for short-term loans, such as for flips, @Keith Groshans, you could do what we do and let the borrower keep the money and pay everything when they sell the property.

4) Keep my money in a guaranteed savings account making 4.5%, until rates drop more or something changes, and the numbers are better to make a move?

Explore multifamily or out-of-state investments for higher yields.Setting up an LLC provides liability protection but has no tax benefit for you now.This post does not create a CPA-Client relationship.

Quote from @Eric Fernwood: Hello @Catherine Javier,This is a common question, Whether to keep, refinance, 1031, or sell.

Second, in terms of asset protection, LLCs are not invincible, but I think what many don’t understand is that they are not designed to completely shield your assets from liabilities, on the contrary they are designed to contain and isolate liabilities.

This approach could keep things straightforward while accommodating their need for housing.

Right now, I do have the "REALTOR" status but wondering if it make sense to keep paying the $800/yr to keep the status?

Yet, many investors overlook simple strategies that can significantly reduce their tax liability.

Always keep record of where you told your insurance company that the property was being used for STR.