If you believe there is still upside potential for your current property and it isn't a headache you could take tax free proceeds from a refi and deploy the cash into a strategy of your choosing.

By exiting quickly, I can compound the returns for my investors since they can choose to reinvest their capital into another value-add deal.

Tenant screening and strong screening criteria are very important, NJ is a tough state to pick and choose your tenants so you need to be very clear as to what you require and it also has to fit the section you’re trying to rent in.

If you can only choose one or the other, I'd do the one which uses less of your money and more of someone else's money.  

Why did you choose to this investing strategy or buy/flip or buy/hold?

You may not have to choose between LLC and house hacking, either.

Not saying that will be the case for you but choose wisely on the location and I don’t see why it won’t be.

A variation is a Series LLC if you have multiple rental properties - also your attorney's call.You do not choose between an LLC and an S-corp. 

Or, if you're not so concerned about having money immediately available and potentially missing out on a deal, perhaps you instead choose to invest in something a little less liquid but that might earn you a higher return.Assume either way that you can cover all your basic living expenses and that you have the necessary reserves saved up to cover the unexpected things life throws at you.  

Or you can go to nhdeeds.com and choose which county you need.