And is it possible to clear willingly transfer interest to the other party to refinance under one person's name or LLC? 

@Uri E.

Hello everyone,I am finally ready to invest in a rental property and my goal is to get one property by the end of the year.Anyways, I need to setup a California LLC (I have a business and assets I want to protect) and am wondering is there anything “special” / different I need to do when setting it up for real estate investing….I just want to make sure I don’t make any mistakes with the setup…I have 2 LLCs now, but both are for e-commerce.Thank you!  

If this property was purchased in your personal name (and this may be the case as you lived there prior to getting married it sounds like maybe) you can either set up an LLC and transfer the title to the LLC or you should probably be able to obtain an umbrella insurance policy that would cover in case of lawsuit. 

A representative from our title company informed us that there was an additional lot which transferred with the house which the previous owner's representative had not informed our title company about, and that caused a delay.  

After purchase I transferred the Deed to my LLC.

So the question is, should I refinance it to pull equity, get rid of PMI, and transfer the title to myself or LLC later?

I'm still shopping around but the rate I have in place for hard money for $145K is 30Y, LTV:80%Points3 = $3,480.00, Transfer/UW Fee $2,174.00 Title/Transfer Fee $4,000.00 HOI/Taxes Fee $2,500.00 First 4 payments Due $3,059.02 DP20% = DP $29,000.00Total Cash $44,213.02 Estimated Mortgage $871.00I don't have experience with flipping and zero knowledge of fixing a house (would love to) so my strategy as of now is just to buy and hold for the CF and equity; long term.

You will pay transfer tax and a little more than necessary if your llc recently bought it.

Best thing to do is call the utility company and make sure they are in your name and ask them if they can transfer the balance from the date of move-in to your account.