Make your money work hard, when transferring it from one asset to another returns more all you need to do is decide if it’s enough of an increase to be worth the hassle.

The $25,000 loss allowance that applies to some Schedule E rentals is not available for rental activities reportable on Schedule C."

I recommend reading the E-Myth Revisited by Michael Gerber.

I couldn’t just transfer money between my accounts but has to make international wires.

It is technically a type of escrow account being held by you, but the ownership of the money is not transferred to you.  

I was quoted $300 including filing fees plus another $400 to transfer the paid off condo to the LLC.Please advise.Thanks

I did that on another property and it was a PIA to transfer title into LLC name.

You will want to button that up because the interest deduction would fall on your 1040, and you would want it falling somewhere else on your tax return (schedule E, business return, or the like).  

In either case, you should verify that you are eligible to transfer the funds from your existing retirement account (e.g. if the funds are in your current employer 401k, you will likely not be able to transfer until you quit your job).Considerations in Setting up a Solo 401k to invest in real estate:1.

Plus because the seller still has a mortgage, so you wouldn't be able to transfer title to you without possibly triggering the due on sale clause.