All else being equal, lower mortgage rates reduce the cost of ownership and, thereby, allow more people to afford to buy.

After 3 years of ownership, I typically see my buyers achieve 9-10% cash on cash return with an annual appreciation rate of 9-11% a year in those areas. 

If we opened the LLC, would/could we transfer the ownership of the property to the LLC?

Bring documentation to prove ownership.

what about quit claiming the two owners onto title as tenants in common and managing the ownership through a TIC agreement?

@Matt Huber I think you know your answer already Direct real estate ownership should compensate you appropriately why else be in the alternative space.  

Ownership does not transfer to the Mortgagee unless this step has occurred (in this process path) and no bidder shows up at that auction outbidding the minimal reserve given from the Mortgagee.

The transaction allows investors to increase the liquidity and diversification of their real estate investments while deferring costly capital gains and depreciation recapture taxes that may result from the sale of a property.Benefits: REITs also can provide the same ongoing benefits of real estate ownership including income, depreciation tax shelter, principal pay down, and appreciation.

@Philip Jones we've helped our clients do over a hundred.As some of the lenders posting have pointed out, the challenges are:1) Property value and corresponding loan size2) Appraisals have much better comparables than 5 years ago, but may still be an issue.3) Property condition can be an issue via the appraisal4) Ownership seasoning - most lenders looking for 6+ months or incredible documentation for cost of improvements made.5) Most DSR lenders require professional property management.Always try a small local bank or credit union, but most will expect you to transfer your business bank accounts over to them. 

., landscaping/signage, plumbing, google pin ownership, are there any major capex items, etc4.