Is this place a A, B, C, or D quality? 

@Jason Evans 50-100k for a 2-4 family is possible, but most likely you are looking in C or D area, or at something distressed and in need of rehab work.

@Elizabeth Enlow At the #s you've described: sub-$60K investment, 14% cap rate you are probably dealing with a C- or D type property. 

If you have a decent W-2 to cover the loses, you may choose to bet on appreciation, but this is speculating and can bite you in the behind. 

Does anyone know what range are the cap rates for class C (or may I say C-) multifamily properties ranging from 15-30 units?  

I've found most wholesalers/s deals are almost always in B, C or D locations and I exclusively look at what I consider A locations. 

After a bit more research, Hammond turns out to a a high crime region - so I'm assuming C or D class.

I am looking to do this on my primary residence that I have renovated, does that change the equation at all, since most of the thread is referring to COR on investments.

I think you just need to drive through and talk to police/firemen and see what neighborhoods are A,B,C or Ds

The LLC might not have the tax formation (such as an S Corp) that is likely best for your tax situation so long term that might be something you want to address, but I recommend making money first before getting focused on cor porate formation.