So I wonder if I can sell my home in Idaho, purchase the new one under my personal name, then how many months or years must pass before I can setup an LLC as the owner of my primary residence, or if you think that will be a good idea? 

Or what your actual return on investment would be if you continue to rent vs. sell now.

Tyler local, so sparked my interest whenever I see anyone post about the area.Given that your duplex is fully paid off and generating a steady cash flow of $1400 per month, it's understandable that you're having second thoughts about selling it.

Now I'd like to sell.I originally wanted to put apartments or several houses, but not anymore, cuz I want to do more hiking, biking, and Netflix-ing, and less scheming.So do I sell as a rental property or as land?

If so, they can sell within 2 years and not pay capital gains taxes on the sell of the home.They could take that money and buy multiple rental homes in other areas if they wanted, or use the money to downsize in to a different home while still having money left over.

Be mindful of a gift tax implications if you sell a house for less than FMV.Also be mindful of transactions between related parties when selling at a loss.

Quote from @Kobe McDaniel: How do you get Boomers to sell who are sitting on multiple properties?

Have you searched your county site to identify those that have bought land in your area the past few years and then contacted them?

I am just out side of Elkhorn, WI and selling our property the is 5 blocks from the lake.

.:  Are you talking about creating a first 50% of the note and a second for 50% of the Note and sell the first one?