The leases transfer to you at closing, so make sure you have them and they have to be honored by all parties!  

If you transfer to an LLC you will completely lose any capital gains tax personal exemption you may be eligible for when/if you sell. 

I would peruse a degree in finance or business. both are highly transferable and can get you a W2 at almost any company. the W2 will help you get financing for your RE career.

I want to make sure that I have the ownership structure set up well, to ensure the best asset protection.I have heard a lot of recommendation to set up the property under an LLC, and have informed the lender & mortgage broker of my intentions to transfer the title to the LLC after closing - and they have no issue with that, as it they have seen it done frequently.The issue I am currently struggling with is with liability insurance.

You could contact the sellers existing insurance company and have policy transferred to your name leaving the existing mortgagee clause in place.

Wanted to see what the community's opinion is on it and if they feel it could be a good idea.General Info on my situation:Primary vehicle: No payments but can't use as Uber (it's heavily modified)Debt: ~9k in CC (0% apr/21 months due to balance transfer)RE Goal: Build capital ASAP to put myself in good position to purchaseOverall Budget: I make good money and after bills/expense I still have a lot left overI was thinking about purchasing a economical vehicle to double as my daily driver and Uber on the weekends for extra income to put towards RE goal.

If the gain is under $250,000 you can get a section 121 exclusion making the transfer essentially tax free.

The donor and myself are wondering if there are any ways to circumvent the gift tax that would come with the transfer of ownership of this plot of land.

(You may also transfer property other than cash as an investment into a QOF, however a transfer of non cash property may result in only part of the investment being eligible for tax benefits)The Opportunity Zone tax benefits have been structured in a tiered approach as follows; if an investor retains an Opportunity Zone investment for at least 5 years, 10% of the initial investment is excluded from being taxed.

One way or another that "amount" is going to transfer to me...so day.