What entity to place property that is going to get split?

I am in the process of buying a 1 acre property that has a home and can be split in 3 parcels.
Is an LLC the best entity to set this up in since I plan to hold for 1 yr and will be splitting the property also?

LLC is the best entity in which to hold any investment property that you will own. If it will be your residence, that changes the equation somewhat, since your risk is lower (you can’t sue yourself). The fact that the land will be subdivided in the future has no effect on the choice of entity.