It's also a good idea to open separate checking and savings accounts under the LLC's name for easier bookkeeping and tax filing.

This will mean a lot more bookkeeping and accounting work for you to switch now.

Make sure that you have good bookkeeping systems.

Most of my bookkeeping clients use QBO at the plus level subscription

I do all of the bookkeeping and taxes for my own real estate business and would be happy to assist you with yours. 

My company Stag Advisors provides bookkeeping, tax services, and business consulting, and my experience in real estate allows me to serve your needs exactly.

Under IRS Publication 527, you can depreciate this 10% portion of your home over 27.5 years using the straight-line method.I am a Certified Public Accountant and I offer bookkeeping and tax services related to real estate.

FINANCIAL CONTRIBUTIONS:1.1 Party 1 Responsibilities:Party 1 shall contribute to the partnership for the down payment, closing costs, and construction costs for renovations and additions.1.2 Party 2 Responsibilities:Party 2 shall independently pay the mortgage until both properties are rented, oversee construction and renovation, manage both rentals, and handle bookkeeping during construction.2.

Not having your bookkeeping in order doesn't help either.Good luck.

It would be easier bookkeeping wise to have them all together, but I don't personally believe it's worth the expense to transfer them.