if that is the case, do you believe that the saved cash flow after the renovation and normal expenses/emergency funds, etc. would be enough to gain a down payment on the next property within 1-2 years?

The main benefit of an LLC over home insurance is that it provides personal liability protection, so if something goes wrong, your personal assets are safer.

Yes you can benefit from cost segregation this year if your wife does indeed qualifies for REPS.2.

Think long term (10 to 15 years), educate yourself, gain experience, build one’s portfolio safely over time.  

This situation surely would have benefitted from this indeed.All the best!

Hey @Ingo Bothe, Indeed STR can give great tax benefits for folks looking to do the "short term rental loophole". 

Given the facts and circumstances that you have mentioned, you'd benefit greatly by working on the stuff in your life that distracts you and is preventing you from reaching your goals.

However, if you are able to sell the land, you can still use the proceeds to invest in property in the location where you plan to retire.Ultimately, it's important to carefully weigh the costs and potential benefits of building a home on your current property versus selling and investing elsewhere.

Please research PadSplit or HomeRoom to gain further insight into this type of real estate investment.

So, the seller gets the benefit of charging you a higher interest rate for a loan they did not originate.