Turning a primary residence into a rental

[Jeffery Kulaga]

My wife and I are just getting into real estate. We are planning to move soon from Magnolia, TX to Tyler, Tx to be closer to family. We have small acreage now and would ultimately like to get more after we move. However, we have been considering first buying a house in town and staying there for a year or two while we grow our business, then converting that property into a rental when we find land. One of my big concerns is when we do convert it from a primary residence to a rental, we would likely want to put it under our LLC. Would we end up having to pay taxes on it again? Would it make more sense to buy it with the LLC in the first place? Does anyone have any additional thoughts on whether this is a good or bad plan? Clearly I am a novice, but we are trying to soak up all the info we can. Thank you in advance for any response.