I will have the homestead exemption if I live there for 2 years which we're planning on doing but not after...

You want that as big as possible.If you sell a house that you have lived in for two of the five years before the sale you can take the exemption @Omar Khan mentions.  

You do not receive a bump up in basis when it is passed on to the next generation, but it does not go thru probate or the estate and you avoid the high estate tax if you are already up to the $2MM exemption limit.The mortgage should still be in the name of the LLC or trust, but the bank would have a guarantee on file.

Can you get an elevation certificate to get it exempted from flood insurance?

I'm hoping you guys (and gals) may be able to provide clarity so I can correct/complete this spreadsheet and help to make this big decision.Heres what I know:Rental income: 1700/moMortgage payment = 1265/mo (included in that is ~520/mo in mortgage interest, 375/mo property taxes (accounting for ~+20% bump after losing homestead exemption))So far Ive paid 5230 in interest for this yearSo far Ive paid 3076 in taxes this year (with homestead exemption)Landlord insurance ~105/mo170/mo property management fee (10% fee)160k left on mortgage (for appreciation/depreciation help ??)

ThanksSteve if you plan to do less than 5 loans and those assets are held in your natural name you may qualify for exemption and an RMLO would not be needed.  

What happened is, the title company never bothered to check if the seller removed her Florida homestead exemption (which she did, earlier in the year).

The mobile home dealers association was in the process of attempting to get an exemption for dealers with respect to the SAFE Act, but I'm sure that will be up to the state as well as HUD, and I bet they are not exempted, just guessing, but I don't think they will get it.

GrandDaughter can sell her half with seller financing which will not be an asset for granny.Further, granny's home is excluded from asset evaluations to qualify for benefits, as a rental she may lose that exemption, but the property value of half an interest will appraise lower than one half the market value due to marketability of a half interest. 

Nevermind actually finding a lot zoned for what you want to do, and the 6-12 months it could take for rezoning or exemptions you'll need otherwise.