Your mortgage will almost certainly contain a "due on sale' clause that will be triggered upon your transfer to the LLC. 

Most lender will have trigger points of equity that Allie a property to be individually sold off

You can transfer title at any point (to an LLC)...it triggers what is referred to as an Acceleration Clause...people refer to this as "due on sale"...it's a protection in 90% of mortgages, but it's rarely enforced ... a bank will probably not call your note due if you are paying on time. 

I just need to pull the trigger on something already!

Hello to All, I’m finally pulling the trigger and seeking my first investment property.

If you want to close the first loan without them knowing about the second loan, then you need to close the first loan before applying for the second.Otherwise, the credit check will trigger the first lender to ask if you are getting another loan.The second lender, no matter when you apply, will want copies of the first loan paperwork.You also need reserves.

Partner A contributes the encumbered property to LLC (assuming title transfer and mortgage transfer are possible), no gain recognized on the contribution, and then subsequently LLC makes a distribution to Partner A to keep the ownership % even across the partners at 25% each    Question: would this trigger the disguised sale rules?

I have been told it is a little complex trying to avoid all the ways to trigger the taxes.

Did you ever pull the trigger on the STR?

People mistakenly say that it will trigger the "due on sale" clause, but that changed a few years ago.