You would still have to give a personal guarantee until the LLC builds its own credit through generating revenue...If you are going to get do a flip with hard money, then you would need an LLC in most cases.So, you need to start with building a plan and worry about LLC's down the road when they are needed.

@Mike Wheeler  Hey Mike, you just became a bigger person in real estate investing by signing up on Bigger Pockets!

Not sure why you can't figure the numbers if buying via realtors the same way buying any other wayFor me personally I just keep an updated list of houses and apts for rent and when they go over 30 days I call and see if they are interested in selling. 

2) Is forming LLC is a prudent think to do to reduce personal liability ?

A SFR is selling for $315k that a person plans on purchasing as an investment property.

personally I would start by being a bird dog.  

A SFR is selling for $315k that a person plans on purchasing as an investment property.

All in the hope that I'll stumble across the one person that says "yes".  

@Michael PlanteI personally believe that while being a landlord is not what you want to do, it is the best method to go about doing business, even if you continue buying properties cash.I would have told my father to be a landlord.

yes the person said they were fed up with being a landlord the place needed repairs I wanted some repairs got the place with nothing down