Rental Property start up questions

[Jeffrey Yarusso]

Hey guys I am a huge fan of BiggerPockets and this is my first post on the forum. My questions refer to starting out with rental properties. I understand that the market is significantly inflated right now making it hard to find profitable deals. I guess my questions are in how to calculate the cost of a rehab? If a put a down payment on a home and begin renting it out, is it okay if the property just pays for itself and I don't make any positive cashflow? Also from what I've gathered it is safer to have a rental property in an LLC. Is it difficult if I purchase a property in my name and then I want to transfer the mortgage over to the LLC will my mortgage company allow that?