@John Boby, As long as that LLC is a disregarded entity (meaning all activity is reported on your personal Schedule C and E) yes you can close that way.  

That prevents piercing the veil.If you are the sole owner of both LLCs there are no tax implications as the IRS will disregard the entities for taxation anyhow.

Please disregard the misspelled words my auto correct knows no boundaries and I am unable to edit this post.

Given the same rates at start and disregarding closing costs, they are essentially the same loan - a 5 year note amortized over 5 years...unless you DO NOT stick to your plan to retire the loan in 60 months.  

A lot of what i've read online says the IRS will look at some LLC's as a "disregard entity" if they don't follow certain steps and rules.

If I was to invest now and disregard what the market is doing, I would likely need to consider a small down payment (5-10%) with higher interest rate.

Kindly disregard.

If your property is listed with a real estate broker, kindly disregards it".Hope it helps.

I myself have used this with two of units and it is interesting how 1 tenant has consistently taken advantage of our $15 early discount (for 700 rent) while another tenant disregards and pays just on time.

I try to just do my job and disregard drama when it has something to do with my cash.