Hi!
First Answer: Yes, each property you own should be placed in a separate LLC. Its only pros for this. You can talk with your RE attorney and have him quit claim them over. The con is that you won't be able to re-fi in the LLC's name under a residential loan. But you already have great financing in place so go ahead and protect yourself. Pro is that each property is stand alone - has its own tax return own bank account. Essentially its own business. Plus if you personally get sued now, they can go after your assests. If they are in an LLC they are separate. So basically tell me where you live and I'll "slip" on your sidewalk and in 2 years be the proud owner of 2 new condos :-)
Second answer: I understand your investment strategy, it makes sense. I started with condos because they are easy. You have a full time job you travel. Condos in A locations (Assuming east of Western) are VERY low risk. With the low risk you are not making top gains though. Its all give and take. There are also thousands of articles on this site about the negative aspects of HOA.
I'm assuming with your first property its 15 year fixed but with a 30 year ARM? Your monthly nut is around $2500 which means you cash flow $800 a month and hope no vacancy. If you have a 15 year arm you are forking over a few hundred bucks a month out of your pocket and thats not an investment...
If you keep up the condo strategy for 2017 just make sure when you buy to buy at least 20% below market rate. That means placing Lots and lots of offers till you find a motivated buyer. I know a lot of people who do this - Its not very sexy but it works. Plus you have a great exit strategy to sell to end users.
You will want to move towards apartment buildings if you really want to start the cash flow game- But that means more time.
