I have been receiving conflicting information/advice from several sources regarding the necessity of creating an LLC before/during/after purchasing my first investment property.

I think the #1 thing you need to do to make yourself invaluable to investors is to source them good quality deals.

Make sure you trust your property source here in Memphis.

I'm an investor as a another source of income. 

I can try if I can find a source to finance the entire project, including the fund to purchase the corner as well. the problem here is the discussion with the city will be very preliminary, as it is the best I can do without having the actual ownerships of all properties involved. 

Fannie/Freddie and HUD will not buy loans with Environmental Hazards because Environmental problems are a far greater source of loss to lenders than fire or title risks because when the property becomes hazardous, its value plummets and if the borrower defaults, the lender could be responsible for costly clean-up fees, third party damages, or legal fees from town violations.

We are all rooting for ya !

I am happy to report, per the chart below, near term lumber futures (1 month out) have finally hit pre-covid levels and we should really start to be putting pressure on our suppliers be it HomeDepot, Lowes, BMC, or any other local supplier you source from. 

Verify all the advice you are given using reliable sources.

In the past, I've found both these resources good sources of information and referrals.