How to use an LLC for first deal

[Stephanie Fritz]

Hello,
I'm a brand new investor and my plan for real estate keeps evolving. At first the plan was to do buy and hold so we've been treading water just saving money. However my husband and I both have homesteading goals and so our new thought is to buy a fixer upper with some land, fix it, live in it and rent out the house we currently live in. 

I'm still very unfamiliar with the legal part of this and am wondering if it would be beneficial to have an LLC and do some/ all of these transactions through the LLC...such as refinancing my current home (the one that will be a rental property) to the LLC and purchasing the new home through it. Would this affect my ability to use certain loan types such as a HomeStyle Renovation mortgage?

Any guidance is appreciated.

Thank you!