At the time they were still processing the loss, and didn't want to interact with anyone more than necessary.

If you plan to close in an LLC, you definitely will not be able to utilize a first time homebuyer program or a low down payment (FHA, Conventional, VA, USDA) loan. 

I'm thinking of renting it at 1100 with all utilities included.

Is there anything else we can do to utilize the extra land and make the property more appealing to short term renters? 

My last str was in 2018 in western Carolina mon rains and was around 100/sq ft and now it’s 2 1/2 times this.By the time you put 10% down and pay mortgage, utilities, insurance & taxes there is barely anything to nibble on.I’ve looked at ltr properties and it’s even worse.Would love some of your insights and how you all have approached this market!

Hi @Josh Corby, along with the mortgage payment, there are usually vacancy rate, property taxes, insurance, your share of utilities, capital expenses, maintenance, and property management fees to consider.

Not sure yet on what I would reinvest the money into, but just makes sense to me to utilize the equity since the rate of return would exceed the interest rate expense.

I feel a lot of people that fall into buckets 2 & 3 would prefer an all-inclusive payment and have everything taken care of (lawn care, snow removal, utilities, etc.). 

If you utilize a Promissory Note and Deed of Trust (in WA State) the prior owner is completely removed from title.

with the BRRRR/Flip idea utilizing equity from the home, you are best off to pursue the garage idea but there are a few considerations to take into effect.