I'm not a tax expert, but I work with them.

Also don’t know your taxes there.  

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Otherwise, if you already bought the property in your name and use QCD to transfer to LLC it's easy to track.3) Getting properties off your 1040 tax return: once you accumulate enough real estate, for various reasons you may not want the proeprties to appear on your Schedule E.

But ya have to make some educated prognostications in life.Add this to the information your processing - What your talking about doing is eliminating around $4000 or interest expense (which is deductible anyway so really could be a real impact of eliminating $2800 or so) of debt in exchange for paying over $10K in capital gains tax (don't forget possible state gains tax as well).  

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

I’m looking for ideas of how to do this, and any advice on how to protect my primary property along with paying low taxes. 

I don't think our detroit land bank sale properties with tax liens I would have to look into that. 

You would have had to be there for at least that to save on the capital gains taxes (up to 250k). 

@James Thompson Transferring property from your in-laws to you can be done through a gift, sale, or trust transfer, each with different tax implications.