If there are, those will most likely go away once transferred into your name.

@Luis Vallejos I’ve purchased 2 MFHs in the last year and I have an LLC but I bought them under my name, then transferred them to the LLC via quit claim deed after purchase.

It’s a pretty unconventional way of transferring property so it can make new buyers a bit uncomfortable.

Is there any way to legally transfer the mortgage/deed over to an LLC that I create?

Otherwise, be careful if choosing to use a Quit Claim Deed for these transfers.FYI - The Fannie servicing guide, for about a year now, supposedly explicitly excludes a transfer into an LLC you own from the due on sale clause.

I've been reading that transferring a house to an LLC after the purchase can be expensive so I thought maybe now would be easier.

Fannie Mae, allows you to transfer the property to an LLC after closing.

It is so important to protect yourself legally because there are great risks to be incurred from a financial liability side, and you want to ensure that if the property defaults, no one goes after you specifically for that money, and if the property does foreclose, that your exceptional credit score does not get ruined.With that being said, what would probably make the most sense is getting the mortgage in your name, and then transferring this over to the LLC.

He also has stated that when he retires he would want to transfer the property and loan to my wife and I( and any properties going forward).

Replacement of income and tax free transfer of wealth.