If you sell the home, expect to lose about 10% of the value of the home in fees/costs.6% to realtor commissions, 4% in other closing costs(Transfer taxes/title costs).There may also be income taxes as a result of the sale.

I have a couple properties in my personal name that I want to transfer into an LLC that I am in the process of setting up.

Changing X LLC on title to Y LLC is a transfer deed, a sale, so property taxes are reassessed.

When you purchased the home the tenant deposits should have been transferred in escrow if your agent was doing his job. 

In the past, we have filed individual taxes with schedule E but with the portfolio growing to be something more serious business rather than hobby house fixing, we are looking into Accountants/Tax Prep.

A market maker provides easy transfer of an asset for buyers and sells.

That being said, this is what the underwriter looks at.For schedule E income (real estate etc),In most cases, They will take the total income after expenses (line 26), then add back Depreciation and Interest expense (lines 23c & 23d) to come up with a total number.They will do that for two most recent years (at least) and then take the average of those.Then of course add any other income that is usable, example would be your K1 income or any W2 etc.Then that is the total annual income number that is used to come up with the monthly number.As I stated before, I am not the underwriter and I am sure there is a lot more involved that just that, but that is a good estimate on what they do to come up with your monthly income we can use to qualify for a loan."

It then shows up on my Schedule E as a management fee. 

We are quite concerned with shielding ourselves from liability, and we read that if we purchase a property in our name and then transfer it to an LLC, a judge or court could come after us because they look back 2 years at all people/entitites to see who to sue.

I am also wondering how to come to a valuation, since I would be buying more than just the property (it is fully booked for the holiday season and the sale also includes all FF&E).