should i have an LLC before i purchase a home-investor

[Yolanda Mestas]

need some guidance. i am working with a team - very new at investing. each of opened a dba. now i am going to get the hard money loan for our first purchase. here is the question/questions: 

1. 1. should i open an LLC before i make the application?
2. 2. if i go with the dba i already have and try to open an LLC how long does it take?
3. 3. i was told an LLC is a good idea in case something happens to someone while the rehab/wait is going on.
4. 4. should i get all team members on the contract? 

like i said. very new.