Rental Property Newbie Looking for Guidance!

[Jorge Aguirre]

Hi,

My wife and I started an LLC last week along with everything that comes with it: business banking, Quickbooks, G-suite, etc.
The intention is to place our property under LLC to separate personal assets and rental income/expenses. 

I'm running into the issue that the mortgage is under my name and transferring it to the LLC could potentially trigger due on sale clause. We're currently packing everything up and getting ready to paint, steam clean the carpets, meeting with consultants. Expenses are starting to add up. 

One of my questions: Although the property is not under the LLC for now, would I be able to list these 'business expenses' under the LLC? Also, can the LLC claim the rental checks as income? Can the LLC claim appreciation and depreciation if the property is not under the LLC?

We are also looking to add a 3 unit multifamily to our portfolio. We are going to continue to add to our portfolio, but I'm getting the feeling of discouragement of starting this LLC for asset protection when I can't list these properties under an LLC unless they are owned outright. I read in other posts that a strong liability insurance will do the trick?

What are your thoughts?

Thanks for reading!