I understand the safest option is to have a lawyer review the lease, but I figured I'd try to answer my beginner questions here and not waste the lawyers time (and my money) on the "for dummies" explanation.Thank you!

There's no current loan on it right now.Given that the investor is a family member (that's how I'm reading it), buying the LLC will "save" you money from buying the land yourself as there won't be any closing/transaction costs.

Maybe a better question would have been if you know how much money you have for a down payment on a property? 

Consider financing options like hard money loans, or FHA loans for house hacking, and focus on areas with strong rental demand near the MA/NH border.

Typically, the initial upfront for the rehab is either cash or a high interest loan (hard money or private). 

These individuals have often walked the same path you’re on and can provide insights that save you time, money, and stress.

OTM = General, overhead/widescreen view of nationwide market tends.BPRE = Detailed ways specific people are making money in real estate.

One thing that I would like to add to this list is making an investment without having enough extra money to get through the medium times as well as the bad times.

They must be very low odds because insurance companies are in the business of making money, not paying out maximums.

Value your money more.