I recommend that you speak with a real estate accountant to see if you will benefit from a cost segregation first. 

Then you could choose if you want to move into that next house and sell your current home with some tax benefits.

It has almost zero benefit to have it to just represent yourself. 

Holding the property should pay down the loan and give us tax benefits. 

Are there any tax benefits from donating this land? 

Another benefit of this option is that it would allow you to get a conventional loan at 3-5% down. 

If you are living there, then you need to weigh the benefits of having a home, as oppose to renting somewhere else.

Our dollar is losing value so you need to be with a solid operator in institutional assets that cashflow in markets while hedging inflation with tax benefits. 

Main benefits to this strategy include:- Low down payment options (as low as 3-5%)- Acquisition experience- Property management experienceThe NYC metro area has nearly 2,000 available 2-4 unit listings on the market.Other new investors consider the BRRRR Strategy.All the best to you on your journey!

My goals include:Eliminating PMI for this property (I’m about $12k short in equity from eliminating my PMI requirement).Stabilizing the garden unit so that we start to benefit from the additional cash flow.