However, this comes with the caveat that you and your husband are prepared to cover any potential increases in mortgage payments after the renewal, especially if the new rate is significantly higher than the current 3.5%, which I ignore since I am not versed in the mortgage system in Canada (although it does sound a bit like an adjustable rate mortgage from what you described).Before making a decision, I recommend speaking with a financial advisor or a mortgage broker to explore your refinancing options and get a sense of what rates you might be looking at come June.

Also is it worth looking at already approved and entitled land or is it only advised to start at raw land and get it entitled ourselves which obviously would result in a larger profit.

Con's- more expensive monthly, locking us down to CLT/ condo building for what I am guessing at least 5 years to at least make it worth it. not as much revenue/wealth building opportunity as duplex

Will your house be worth less because there will be bigger and better new builds near by? 

As soon as you remove the mortgage you will see an impact on your credit report.Another thing is that you have to make sure the LLC has its own bank account or you will be commingling.One thing that I am seeing that won't benefit you is that you can't benefit of homestead if you do this which will increase your property taxes though I am not sure how that is impacted in California.

Lenders will want to see 6 months to a years worth of mortgage payments in reserves after closing.

I was on the phone with an owner yesterday who is contemplating selling, but will need to bring at least $150,000 to closing, due to the fact that their property is currently worth somewhat less than what they paid in 2022.  

Get a steady income without spiking your debt-to-income ratio... and without having to spend a huge fortune to get a miserable passive income.Then with that money get secured assets like real estate that will always be physically worth something (not just digitally).And that is kids what I am doing now!

Question for you, does going down that path worth your time?  

If you have that eye, go for it, but know that if you pay for it, it will be worth it.