I have my 01 ffl as an LLC and want to get my SOT, but I want to be able to get MG without a letter from CLEO. So that means I need an 07/02 license. Does it make sense to keep my 01 and get a separate 07 license as sole proprietor to keep things simple? Or does it make more sense to change my 01 LLC to 07 sole proprietor?

It makes more sense to switch solely to 07/02. You don't have to change your LLC. It's up to you. If you end up with pre-86 dealer samples, the LLC can continue to own them (along with anything else except post-86 MGs) even after it isn't a SOT or FFL anymore. You'll just have to maintain the LLC for as long as you want it to hold those items.

If you go with a sole proprietorship, then everything is in your name already.

I'm going with a sole P just so I don't have to mess with the LLC stuff every year once I retire (filing annual report, fees, etc.) Anyone in my family interested in possessing the guns independently can become an employee.

You'll have to Form 2 new MGs yourself to get them without a LE letter, or buy them from a Class I or II SOT who isn't renewing their SOT in June (and normally they charge a premium for such occasions, because they know some other SOTs cannot obtain law letters).

So with the LLC, if I decide to relinquish my ffl and sot, the LLC will still own the suppressors and they don’t have to be sold or sent back or form 4 to me individually? How do you close shop but keep LLC open?

Correct.
The LLC is just a legal entity or "box" to hold/own stuff. It doesn't have to be in business. It can exist just to own things.

You must pay a $200 tax (per item) to move NFA items from the LLC to yourself (even while it holds the FFL/SOT). You and the LLC are different entities. With the sole proprietorship, YOU are the business.

As long as the LLC isn’t dissolved, it would keep the suppressors and I could use them without owning them, correct?

I just don’t want to build up inventory and then not be able to sell them and be stuck  if I give up my SOT for whatever reason.

How hard is it to change my current FFL from LLC to SP? Even possible?

KitBuilder

We are and 02 (pawnbroker) with an SOT. I am learning about becoming and 07/02. I was wondering if I would have to obtain a seperate FFL since my 02 allows out of state residents to redeem loans on hand guns. I can't give up the pawnbroker aspects of the 02.

What do you think?