Buying Income Property with a friend / partner in an LLC

[Kyle Frey]

Bigger Pockets World,

I am interested in buying my first rental property and have read a great deal on whether to put this in an LLC by creating a general warranty deed and deeding the property over to our LLC. I think this is what makes most sense, but this is done after buying the property. It is my understanding the bank is not "technically" okay with this, but they won't due anything as long as they are getting paid.My question is: What is the best way to physically pay for the home prior to putting it in your LLC? I am assuming the check for the down payment and closing costs can't come from the LLC?  Are there other options for splitting these costs among individuals within the LLC or would this money just come from a personal account and once you physically own the house you would deed it over to your LLC?

Best,

Kyle