This would trigger transfer taxes and he would more than likely pro-rate the property taxes.

So when you cash refi within the entity, you will have enough basis because of your refi loan to distribute the cash out of the entity without triggering tax if structured properly. 

If I sell the house, will the money from the sell go back into the total mortgage, or when I get the house surveyed, does that trigger a refinance and create two mortgages?

This is a new venture for me and I know I will perhaps not know all there is to know...I need to pull the trigger, I need to come down from the cheap seats and get in the game👌🏽

I definitely recommend getting pre-approved to buy so you can pull the trigger when something hits the market.

Note that you will probably violate/trigger the due on sale clause of your loan, if you have one.IMO LLC's are overrated for small portfolios.

Im at the point where im done studying and want to start pulling the trigger. 

I am, however, coming across some discussions mentioning that a prospective lender or bank you'd be working with on the refinance may be able to see that the title on said property was slyly financed to yourself through your LLC and this could/would be likely to trigger a "Due on Sale Clause" which would screw everything up totally??

I’m still probably a year to a year and a half from being ready to pull the trigger on my first deal.

Now it will be a matter of actually pulling the trigger and buying a home.It starts with the learning that you appear to have done quite a bit for.