For context, we have about 30k saved up, and are living in a hot market (Nashville).

Are you using a BRRR strategy to get the cash or are you just saving money or maybe using hard money?

That's only $33/month if I start saving now, but in reality I will either sell the property by then (and collect the appreciation) or the house will be worth so much more I can pull that cash back out - that the tenant put in - and take nothing from my pocket. 

One priest lost his life savings and he could not regroup. 

Ultimately, its just a truck. 

I'm am able to save 1,000 a month. 

Plus depreciation to maybe help you save from other income taxes.

While yours would not have the mortgage payment to make, a good leveraged deal will generally out perform a cash deal.Second, you will have to save up an equal or greater sum for your next property.

If the deal falls apart, at least you saved some money / headache by not setting up the LLC too early. 4) Who holds the title - LLC, or us as individuals?

You could eliminate the middle man and just pay off the original mortgage with the re-fi, and save a few thousand dollars in HML fees.