That would be my recommendation is to buy an investment property and remain where you are.

Should I remain a sole proprietor or create an LLC?

Keep in mind, the region is immensely sought after, leading to notably low capitalization rates.Positive cash flow from a rental property becomes challenging; however, there remains potential for substantial returns through appreciation.

If you move into a property acquired through a 1031 exchange and make it your primary residence, you may qualify for the capital gains exclusion under Section 121 (up to $250K single/$500K married) if you live in the property for at least two of the last five years before selling.However, gains attributable to the time it was a rental property remain taxable (non-qualified use), and depreciation claimed during the rental period must be recaptured at a 25% tax rate.

Adjacent to this bustling hub, affordable residential lots have remained available, particularly after decades of urban renewal and the city's efforts to address blight.

Thought I'd check in to see if people's recommendations remain the same 3yrs later!

I would remain as anonymous as possible to the neighbors.

Regardless, the market has slowed, but prices remain relatively stable. 

The 2024 business return can reflect the change of ownership to two 50% partners (or however the ownership interest is split between yourself and the other remaining partner)?

It's highly likely that this is the case and that one of the covenants for this loan was that it has to remain your primary residence while the loan was in place.