I am a long-time listener and lurker through my husband's account on here, but I wanted to say "hello" and formally introduce myself as an individual as well!

Can put it in an LLC or even in your individual name as a commercial mortgage for real estate .

It can be cash flow, or equity as you mentioned which are traditional measures but then there are some more philosophical measures such as creating a way to do something your are passionate about or the ability to provide quality housing for people in the community. 

I wanted to create options for my family.

I am currently trying to understand how people with 40 hour/week jobs efficiently go from building a list to getting a motivated seller on the phone to an appointment and signing a contract I currently have more money...

I typically enter in the individual unit specs if there are multiple units in the building.

Wow, that looks like it would bring you on some very unique journey.Could you individually confirm each topic, my goal anyways. 

Skill Constraints: Individuals may lack certain skills required for various aspects of real estate investment, such as construction management or legal expertise.

=D)Is it absolutely necessary to have your LLC created prior to doing deals?

It may lend you a little privacy, but folks who want to find you will just look up who created the LLC and then find you.That being said, in MO, they are incredibly easy to set up, and are not that expensive to establish (~$50 last I checked, although that may have gone up) and doesn't require any input from an attorney or tax professional (in my state)Personally, I have an LLC bc I pay myself through an S-Corporation as a realtor...the savings come out in the wash, but it allows me to pay taxes quarterly and avoid end of the year surprises.Another reason you may need an LLC is if you are investing with partners, and/or seeking certain loan types ( I know hard money lenders often require an LLC)Once again, this isn't my wheelhouse, so at the end of the day, I would reach out to a tax professional to learn moreLong answer short: in my opinion, you do not need an LLC if your plan only involves renting out your inherited home