Individual owner of SFR transferring to multi member LLC issue

[Steven Anderson]

My wife and I started our REI venture for buy and holds. All properties purchased to-date are in my name alone however, there will be a time in the future when we plan to move them to a LLC. I alone own the properties now because my wife has credit issues which take time to improve.... The future plan is to move the properties into a multi member LLC owned 50/50 by the two of us. However, I heard that properties moved to a LLC wherein the LLC ownership does not match the direct ownership interest in the transferring property prior to the transfer can create all sorts of legal and financing issues. For tax it's a non event. Anyone have any experience or feedback? Thank you for your replies. Steven Berkley Properties