The LLC would collect rental payments in a business account and make the monthly payments on the mortgage operating like it should.

The ability to use leverage and reduce taxes in your highest earning years without having to put money into qualified retirement accounts is a great way to build wealth.So - If you own an STR:1.

This allows us to consider the real estate cycle and determine the optimal timing to sell.

Extremely difficult to pass and I bet you didn't know that you had to get it reinspected again in three years.

@Becky Hoffman If one member of the LLC does not care to have any claim to the property as you describe why can't the partner merely be removed from the LLC.

Right now treating it as interest but would like to make it active income to do a solo 401k .

I would assume that you'd just simply sell each individual lot to the developer at a set lot price such that your cost to purchase the raw land and improve it to buildable lots was worth the proposed profit per lot.  

Selling some property to pay down high-interest debt is good, but also consider looking into ways to refinance or leverage your existing assets for better cash flow.

Check with your CPA if you instantly owe the depreciation recapture if you gift it to your son.

Excited to see what happens during other states legislative sessions this year.