I am in the process of buying a piece of land located in Southern California.

We operate an restaurant in this location for 10+ years now. 

The house is located in San Diego. 

The land is in a pretty good location in a rural county.

Where is the property located exactly and how much money do you need?

What part of the country are you located?

Section 121 exclusion you are referring to asks: Did the taxpayer live in the home for 24 months of the prior 5 years?

Check with your lender prior to closing to verify it is ok to put the property into an LLC.

This picture would provide a better view. 13th Street is the other substandard road where I’m trying to get access, which is also where the residential homes are located.

I'd start with cash for keys but if that didn't work,  seems like it may take 3-4 months to evict a person,    my big question is getting liability insurance on the property.I get that there isn't much I can do preventing the previous owner from trashing the place  (she is 60+ so I doubt she's taking a hammer to the place)   but I do worry that if she or someone else were to get hurt prior to an eviction and sues me.Can you get insurance on a property under these conditions?