bare land notes created by the owner sell for yields in the 20 to 30% apr range.. 

@Alan Davidson You should also look into this thread - https://www.biggerpockets.com/forums/51/topics/592....You should look into Series-LLC and see if that's an option for you - then you don't need to worry about this question, as you can place a property in its own children Series-LLC that you can form when needed.As for distribution, you can have one or more per LLC, and that depends on multiple factors:- property class - you might not want to mix A class property with a D class property in the same LLC, due to different tenant level- cash flow - you might want to keep your cash flow cow separate from the ones that barely produce- equity - you might want to keep the one with large equity in its own LLC while you can group the ones with little equity in another LLC (let's say you have one with 50K equity in its own LLC and 3 other each with only 10K in another LLC, till their equity grows to your risk threshold when you move them out in their own LLC).- number of units (in the case of MF)- location of real estateThe investor has to decide what mix is optimal for their situation.

I rented half of a duplex in San Jose walking distance to valley fair mall and could barely charge $150 a night.

Make sure you get a decent down payment. 15% should be bare minimum!

The results for living in one half fall far short of "living for free" and when fully rented they often barely break even.

I usually recommend the bare minimum coverage so it's not such a financial burden for them, but still give you protection.

It keeps many in the state in a perpetual state of just barely scraping by. 

We thought since I can barely get us into a livable home for 150k at 5% down like 13k maybe every 2 years we could sell and level up.

And if you are able to, then it is probably not a buildable plot.The more likely scenario is that experienced, competent, sophisticated developers will bid this property up all the way until there is barely enough meat left on the bone for somebody with experience to develop.

Im 210lbs and I barely fit in the pilot seat.