Financing for a $30,000 invesment property

[Drew Oberholtzer]

I'm purchasing a house for $29,000 and will be renting it for $800/month. It needs little work; just a fresh coat of paint and a new subfloor in the kitchen. I have cash on hand to purchase the house, but don't want $29,000 locked up as equity in the house. Most banks won't touch anything under $50,000. What are my options if I'd like to pull money out of the house for future investment properties. Also, is it better to purchase as an LLC or individual. I don't know very much about financing as an LLC, but would ultimately like to purchase properties under an LLC to protect myself. Any feedback would be appreciated.