How can I sell my primary home to my LLC legally? (moving)

[Daniel Trost]

I bought my first house in 2015 for 91k and moved right in. It was bank-owned and I bought it cash. It is now worth about 250k. I'd like to move to a different town and rent out that first house (both in Oregon). I'm thinking to start 2 LLCs, one just to hold the property, and the other as my rental business. My idea is to sell my house to the LLC biz (which I realize is a sole-proprietorship to the IRS), and take advantage of the Home Sale Exemption for those capital gains. Then, with the LLC having purchased at fair market value (250k) such that the annual depreciation deduction is much higher than it would be at my personal cost basis of 91k. Is this all legal?

Or does the LLC rental biz have to be a partnership?

Do I even need a second LLC beyond the one for holding the property since the IRS views it as a sole proprietorship anyway?

Any warnings? Something I'm missing?

[Natalie Kolodij]

You can't sell your self your own house. 

You are the same as your LLC to the IRS- there's no where and no one to report a sale to or from.

This CAN potentialyl be done with a corporation but comes with several other considerations so talk to a tax professional before considering this.