If you own the property contact your utility companies and ask about their landlord policies, usually what's done is the property's utilities are in the name of the landlord for general purposes, like shut off notices, or emergencies.They would provide you with forms so you fill out and submit to them for tenant, usually on line forms. they put the name of utilities in name of tenant. tenant is responsible for utility costs.

Let's just say we get 500K on a sale for the purpose of this question.

Legal feesMy questions were strict about the purpose of the annual paperwork and additional legal fees.

They have no real purpose anyways as long as they are recorded in the land records 

In a couple decades, however... everyone has a dream and a purpose.

In later years when you are ready to take IRA distributions, for example, the funds would be returned from the IRA LLC to the IRA, as the distributions have to flow from the IRA for tax reporting purposes.

@John Anderson - I like keeping the LLCs for tax purposes mainly and having separate business accounts.  

I was under the impression that when you paid to play you were allowed to self promote.

I had this situation come up with my investment before because I bought it under my name for financing purposes and wanted to switch to LLC to protect myself and help with upfront taxes.

I'm not saying you should do this on purpose in a pre-meditated fashion, but if it happens that way, then so be it ...