@Jenn A.talk to @Michael Atias, he and his team are experts in corporate formation. 

Is this a must do before any investment or can we incorporate after we have raised enough capital for a buy and hold property?

The beautiful thing about that strategy is regardless of the market (ARV) if the property is purchased correctly is still works (cash flow), and being stuck in corporate america right now replacing my current income is key. 

The "A" properties are already wired for fiber internet, and retrofitting low end properties comes with considerable cost.

I was trying to incorporate the higher rent that I'm currently paying as renter but which wouldn't be paid if I moved into one of those units into the equation.  

My property had rotting exterior wood siding so we decided to renovate the exterior of the house with fiber cement board as well as install new front door and new wood on the front porch and rear stairs bringing the exterior in line with the other rehabbed properties.  

I know it is safer to incorporate then to own property in your name, but how do you do it?

Less if you need to incorporate your own fee.

Registering the LLC with the state you want to incorporate in.3.Creating the companies operating agreement.You could do the first 2, the 3rd I recommend you get an attorney to do, the attorney does not need to be in the state you are incorporated just need it to outline how the company operates (single member, multi-member etc).

You do not need to incorporate to deduct expenses from your rental income.