You can quit claim the property into an LLC after the fact, but you'll want to be sure that this does not trigger acceleration/repayment under the terms of the mortgage.

Some people purchase a property for cost segregation/accelerated depreciation purposes to save on their taxes.

Thanks to the Cost Segregation Study, the property investors were able to reclassify the property into shorter useful life categories resulting in first year depreciation of $203,600.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

Option 1 allows you to spread your investment across three properties, considerably increasing your rental revenue and accelerating portfolio growth; however, maintaining several mortgages can be difficult, potentially limiting your cash flow, especially if one property is vacant.

One thing for sure; thanks to the new tax plan accelerated depreciation is about to get materially even better!

Perhaps I have the facts wrong... but you can certainly take bonus (or accelerate to bonus amounts) in a year that is not year 1.

Quote from @David Vaitenas: Investing with others can accelerate growth, but you need to really know what you are doing.

Here’s what typically happens when investment loans go 90 days into default1- loan is placed in “non per forming category”2- non payment information sent to credit bureaus, and borrower shows “90 days late”3- Fair Issac credit score drops 150+ points4- credit requests get denied, credit available is at rates 5 points higher than before5- notes are accelerated by lenders6- legal fees are added to principal balance owed7- the lender accelerates the loan8- interest rate is increased from the current Rae to the “default” rate9- late fees are added to the principal balance 

Hey Christie, in most deals the sponsor does a cost segregation study, which helps accelerate depreciation.

If I remember correctly potentially you can save on income taxes, but you can't use things like depreciation or accelerated deprecation to reduce the income.