You can't always base your analysis at what the MLS data shows for rent but physically go look at it and see what you can do to increase rent to make the numbers look good.

Yes they may get orders to transfer but that is life (anyone non military could lose their job or get transferred which has the same end result for you) and they are protecting our country with little pay.  

With double title insurance fees and transfer taxes, it could easily put you into the red. 

As far as the lease goes, the transfer of the property does not change the terms of any lease agreement.

For this reason it may not be as advantageous to transfer the funds to a self-directed IRA.

Title works the same, escrow works the same, closing and transfer works the same.

If you think you will go FHA and then Quit Claim the property, to a LLC you run the risk of the lender discovering a Title Transfer occurred and activating the "Acceleration Clause" or "Due on Sale Clause" that requires the loan to be paid in full, within 'x' number of days.

Thanks for the offer, but I'm a licensed Realtor:) The MLS record is the only place where I've been able to find data on it.

I plan on forming an LLC for the rental but want to know if it is necessary to transfer title to the LLC or if there is another way to get the same liability protection?

Transfer of title to an LLC may spark an acceleration clause that could be in your mortgage agreement.