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As far as lending goes, it would not necessarily be an investment property if you are not renting it out. Are you still planning on spending some time there? If so, and you are not planning on renting it out, it would be considered a 2nd home. 2nd homes and investment properties are treated differently in the mortgage world and you may end up paying a higher interest rate for an investment property. As for creating an LLC, you should consult a lawyer and a CPA, but most residential mortgage lenders will not allow you to transfer the mortgage for your property into an LLC. Just some things to keep in mind when you are deciding what you would like to do with the property.
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For Sale: $130,000
For Sale: $298,500
For Sale: $131,300