Partnerships and tax implications

[Jeff Sullivan]

I currently own 5 SF rentals with a partner. All conventional financing... some houses in my name and some in my partners. Is there a strategy that would allow us to each claim half of the income and half of the mortgage interest deduction? Also, if we were to sell one of the homes, a way to ensure that any cap gain is split equally. I have considered creating an LLC and deeding properties into it but am concerned about "due on sale" clause.