Here are some potential strategies to address this issue:Think about methods to improve your revenue.

The 7% is potential expected/guaranteed return of off 1M invested either by way of dividends and the likes.I am not sure if I answered your question correctly! 

My goal is to own some land so we have somewhere to come back to (my wife and I currently are nomadic) and also potentially short term rentals while away (rent to other RVers who need a spot).now my question: Would it be best to pay this for cash outright as 1 of our first investments?

(DM me if you have any off market deals in the ~<$150k range)If I want to protect my personal assets from potential lawsuits and start an LLC, will that mean my interest rate for the traditional loan will go up, or can they still go off my personal credit since I own the LLC?

There are lots of potential projects that haven't been announced or talked about.You seem to correlate # of listings on the market with appreciation/depreciation. 

It's currently making roughly $77,300 in gross income for 2023 number with an uncompleted dirt backyard, if I add a nicer backyard with jacuzzi and more backyard activities It could potentially increase the rental income.One way to structure this deal better for use as a vacation home is to negotiate a longer balloon payment period with the owner.

Not sure about where you're looking, but anywhere in Colorado here, if the home is zoned single-family then you can rent that separate space I'm talking about as long as you live there, but as soon as you move out, you can only rent the whole home as one unit.The trick then is to find a SFH with a potential separate entrance to the basement that is zoned multi-unit.

Your response will then dictate potential methods to transfer wealth.  

You want to invest just to have a place to live and potentially offsetting your mortgage payment by renting out the vacated rooms or having x amount of cashflow in the future?

It also really helps to have an experienced VA lender on your team like @Zack Karp who can help you avoid & navigate potential problems.