In your opinion, what is the most effective way to establish an LLC? 

Yep for one especially in the early stages a hard credit pull would not be useful, just have them do soft checks for the time being and opt out of credit solicitation: www.optoutprescreen.com I could be biased... that said typically working with one lender than can help regardless of where you're looking and having a relationship with that will provide the easiest and most cost effective route long term. 

Take control, right the ship best as possible and then effect what liquidating event is best possible to recoup as much capital as possible.     

Using escrow company & title insurance will protect you from an unwanted surprise.

Georgia, a state not mentioned, offers a 20% penalty so if the encumbered deed is redeemed after 1st month your effective rate of return is 240%!

Plus for its high cash flow potential, utilizing a 1031 exchange to reinvest gains effectively made this experiment a relatively low risk for me.

Simplifying to a single operational entity (Series LLC) for rentals and management can effectively meet your goals while minimizing costs.

(you know all the things we using in running effective and efficient private companies) it would be a different story. 

I am a strong advocate for their effectiveness allowing you to do substantially more with your money. 

Hi Shawn-Congratulations on starting out on your real estate investing career.You have a question about whether it is good to have your real estate license or not as an investor and you are leaning toward multifamily investing.I personally think having your real estate license is helpful as an investor.Having your real estate license allows you to work with other investors to help them build their portfolios which helps expand your network while being productive, you can research market value more effectively, find out about deals before they are listed, and of course it allows you to collect the commission on purchasing any listed property.To Your Success!