. - I was in a VERY similar situation here in Chicago, but I had less experience working on my own than you.I had a piece of land that I owned free and clear, but since I didn't have any development experience, most of the banks wouldn't talk to me. 

I want to know is it more cost effective or easier to purchase the property alone and put it in a mortgage in our name or purchase the LLC from him that holds the property within it.

In today’s housing market, where inventory remains tight and competition is fierce, speed and decisiveness have become critical factors in securing a home.A Market Defined by Scarcity and CompetitionThe U.S. housing market is still struggling with the effects of years of underbuilding following the 2008 financial crisis.

Do you believe it will now be more cost effective to hold a license or do you believe the expenses will go up with what I assume will be a flight from the business by low producing real estate agents? 

To leverage the equity for financing my next deal, a second mortgage seems like a more cost-effective option.

very high risk even I only do them with very specific investors in mind and a plan. we dont flip land we develop every one. 

I find that it's almost a one stop shop in that I can use it for my business checking and savings accounts, bookkeeping, for rent collection, I can issue virtual credit card, I can create all the financial reports I need to run my real estate business and prepare for tax filing and through their partners I can vet my tenants, develop state-specific leases and more.

Check out some of the great things happening in Detroit in 2024https://michiganchronicle.com/2024/01/03/major-developments-that-will-define-detroit-in-2024/

Develop a program coming out of college.  

You could try typing developer on to the search magnifying glass in upper corner.