A Tale of two Fourplexes

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Hey all. Long time lurker, first time poster. While at a BBQ at my brother-in-law's apartment this weekend, we were discussing the building he lives in. The owner is a former resident of our town now living in California with some health issues and is looking to get out of the building. My brother-in-law is the building's maintenance guy as he is a GC, so he knows what work is needed. The other is a fourplex owned by a guy looking to retire. Another landlord looked at it and said there is some potential there with some rehab.

So, obviously, I'm looking at both right now, but I would love input. 

My background:

-I have not yet formed an LLC. I want to form an LLC structure per BP podcast 109. I have not yet because I am getting my RE license to become an agent. I have spent so much time focusing on that I figured the LLC would come later.

-This would be a first property for me as an investor. I have a house I purchased a year ago with built in equity because we purchased below market. But that was pre-BP, otherwise we would have house hacked; regardless, this is pretty much the only skin I could have in the game at this point. I am also the father of 3 with #4 on the way, so buying one and moving in is less than ideal.

-My initial business plan was to fix & flip to build capital for multis/commercial RE, but I know for fourplexes the financing can be similar to single families.

So, I'm interested in what you would do? Ideally, I'd love to snag both, but I would have to run the numbers, which admittedly I still need to do, but I figured I would get some input on how to approach this. How would you finance? LLC now or later? Evict the brother-in-law so I don't rent to family?😂