My question is: Do I need to now transfer the house into my newly created LLC, and if so, how do I go about doing that?

I sure as hell would not be paying the taxes on a property unless I was darn sure I had some claim or interest, even if title not transferred (yet).I can give you a number of scenarios why someone WOULD be paying taxes.

So I will transfer 500/mo into a separate account (my goal was 100/unit/mo).  

I spoke to 3 lenders today and all insist on me using my own name and transferring after closing which is yet additional fees.

You can transfer it to a SDIRA or self directed IRA.

I took out a HELOC on my primary residence that I plan on transferring into my llc to purchase a property here in Denver within the week.

Real estate licenses don't transfer over state lines.

Luke Aubut and Shara Surabi Transferring title can trigger the Due on Sale Clause.

I transferred my credit card debt with 21+% interest into balance transfer credit cards allowing me to pay off my credit card debt without paying interest (that would later negatively effect my credit score, little did I know, due to opening new lines of credit--C'Est la Vie!)  

If not cured, they get the property back automatically for a $10 transfer-back fee.As a representative of the seller, I would learn if there is such a medium in CO.