Less than ideal cap rate

[Zacharias Salva]

I have two questions. My first question relates to a single family unit that I bought last year to reside in but have just converted to a rental. After research and plugging in all the numbers I have found that this property,( priced for 152000, closed at 168000 with additional improvement from the builder - projected gross rent of between 1295-1400) has a less than ideal cap rate. I don't know if it would be more prudent to hold onto the property and take it as a lesson learned or to liquidate if I can make a small profit off the house. My second question - how many of you have incorporated your real estate holdings into an LLC to redirect liability away from you, the owner? If so is it worth the additional costs involved?