Is it a good idea to form an LLC to buy your first house hack?

I was wondering if buying a long term rental property with tenants already in place in a market that is up 20% yoy is a good investement or not. the rough numbers ive been running seem to have a decent cap rate but the house is about 15k more than the zipcode average. 

Overextending Financially: Stick to your budget to avoid becoming house poor.2.

That $50K rehab should be adding at least $50K in value you to house, but let's say the market is really bad and the rehab you did wasn't so much value add.

Quote from @Joshua Lee: I've read about house hacking the BRRRR method, FHA loans, etc..

Does that automatically disqualify them from being good tenants that would pay the rent on time & not destroy the house?

Rents in the area are anywhere from $1k-$1300 a month.My plan was to get a hard money loan to get it going and fixed up and ready for tenants, then within about 6-7 months refinance the home with a traditional lender, then sit with that home for awhile until I get fully comfortable with the one house.

The house was out of state. 

I haven't had anyone jump up and down for something we have in our lake house.

I'm invested in a property near the Grove that's executing that business plan now.At a simpler level, that might mean buying a house with a garage, converting the garage into an ADU, and renting out the ADU.I think a super solid first step to get into the LA market is to househack a home or a multifamily.