Can I take title in our names to offset LLC profit?

[Teri B.]

Hello,

I try not to mooch info, but I can't get time with a CPA fast enough to ask.  I tried.

No legal/professional advice assumed, if you reply.  

Sold a house in June. Meant to be a buy and hold, but sold due to a move (only rehabbed, never rented). Didn't want to be brand new landlords more than an hour away. The CPA I spoke with said it can qualify as regular investment income, based on intent, to minimize the tax burden (no intent to flip originally). All transactions in name of LLC. Some profit. We sold our primary too, and have since bought a new primary home in the new city.

I am hoping to close on an investment home this Friday (so, in 2017). BRRR strategy, so we would take title in our personal names (with a big umbrella policy) to facilitate the financing in 6 months. With the LLC that we used earlier in the year being a single member LLC, I think it's all 'pass through' investment income. So, I think it's ok to take title in my spouse and I's name, and still have it be advantageous tax-wise.

So, in LLC (I'd have to amend purchase agreement today) or is personal name ok - from a tax perspective?

Thank you for any input!