LLC question and a few others

[Patrick Wang]

Hi guys, I'm a first time investor and just recently bought my first home. I've scanned through the forums and couldn't find anything like my situation. I had previously set up a dedicated LLC for the sole purpose of real estate investments. During the deal, I mentioned to my bank that I would like to purchase it with my LLC. Bank said no problem, but the loan would have less favorable terms and a few other things that I frankly can't remember. At any rate, I switched to purchasing it under my name thinking I can just switch the title to the LLC at a later date. The property closed 2 months ago. I've been rehabbing it for the last 2 months and hopefully it should be on the market for rent by march. I spoke to my lawyer to transfer it to my LLC. He looked at my paperwork and noticed that the loan prohibits me transferring to he LLC, and in doing so I would breach my loan contract. Basically I would have to cough up the entire amount of the loan if breach the contract. My lawyer's other clients have faced similar situations but they still went ahead anyways. He didn't exactly condone the process but he said his clients were fine. Anyone come across similar situations? What other legal avenues do I have to transfer to the LLC? Thanks in advance!