The income from the property pays off the debt, while you get the tax deductions, equity build up and appreciation.As to why people pay cash, many don't know, like or understand other alternative investments. 

Since I am selling a primary residence, I don’t think I can utilize the 1031 to save money on taxes.

You could pay PMI for 21 months before the PMI cost more than the origination fee so you may not be paying much of a premium on PMI vs the origination fee charged by SECU.If you get this house up and running, you could be looking to purchase your 2nd home in just over a year with 3 to 5% down (depending on your income and the income limits for HomeReady once you are looking to purchase your 2nd property). 5% is always allowed if you make more than the HomeReady income limit. 

My sister was suggesting I pay to clear off the existing run-down trailers and get my investment back in land equity.

We are definitely paying a lot but it seems it does a lot.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

I really need some help understanding the bonus depreciation tax laws. 

It may require paying down some balances and taking out authorized users 

Why wait 5 or 10 years to get the tax shielding benefit?

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.