This is true even when house hacking.The LTV combined with the conservative refinance appraisal places challenges on extracting all of your initial investment. 

There are different ways that a bank can find out about a transfer to an LLC:- they may periodically pull the title to check (rare)- they will be notified by the insurance on renewal (not only will you have to change the name insured to add the LLC on the insurance, but also, insurance often pull title at time of underwriting)Will the lender bother about it?

Again - possible but rarely available. 

For house hack, I like houses at an average condition (not the worst or the best), like houses built around 1970, rare but still exist.

I had to do it on a new build we did & now the previously constantly running sump pump rarely runs.

It's very difficult to do it right and make it worth doing due to the combination of time spent researching, high initial capital outlay, lack of liquidity, and modest return.

Central heat/cool, and currently gets $850 per month base rent, NNN lease where tenant pays (reimbursement) for property taxes and insurance.Lease Term: 10/1/17 – 9/30/2020Base Rent: $850/monthNNN Tenant Reimbursement to Landlord: $170/monthLandlord Annual Expenses: $1,020 water/sewer/garbage, $1036 property taxes, $506annual property insurance.Gross Annual Income: $12,240Annual Expenses: $2,562Net Annual Income: $9,678Zoning CMS Building Class B (Residential 3/1 Home)-Lease Term: Month to MonthRent: $1,100/monthGross Annual: $13,200Net Annual Income: $13,200 Combined GROSS ANNUAL INCOME: $25,440 Combined ANNUAL EXPENSES: $2,562 Combined NET ANNUAL INCOME: $22,878I have not looked at the property, based on pictures looks in good condition & would probably need an inspection report to see if there is anything major that needs to be done but after running the numbers factoring in all costs ( *considering this would be a cash purchase) the ROI would be around 9%.

@Paul Evans - well, we're all in agreement (THAT'S rare!)

I'd maybe only ever buy one if it were adjacent to my own unit and it made a good combination.

Some DO have rental increases in the options but more rare.