Is there any way I can use the gain from the sale of the land to pay down mortgages on other investment properties? 

So, if you did 50/50, you would split the monthly profits (cash flow after operating expenses and debt service) and the proceeds at sale. 

You will need to coordinate wording of your lease.

As with any For Sale By Owner (FSBO), some are good deals (meaning they easily exceed the 1% rule) and bear out a good ROI after more rigorous analysis.  

I know all real estate is local so take it for what is worth.I am in Baltimore at courthouse auction currently and already heard from 2 associates that things are softening on prices, sales and rentals (all fronts).  

I'm not a tax advisor, but something else to consider with the loss from purchase date to sale date are your taxes should be in your favor.

Now it is up for sale. 

Some context...I just recently took an entry level job in sales as a recent college grad.

After two years you get the tax exemption and don't pay long term capital gains on a personal residence sale right?

I never ran into that one when I was a loan officer, but my guess would be that since the LLC is the borrower (if you can find someone to lend to an LLC) as long as the title stays in the LLC there wouldn't be a violation of the Due on Sale clause.Oftentimes a lender that lends to an LLC will require the members to personally guarantee the loan.