What steps must I take to move a rental property from our LLC to a 50/50 TIC structure? 

I haven't had any problems doing a cash-out refi. as long as the property is not in an LLC and new loan is for 70-75% of current Appraised value (leaving 25-30% equity in the loan.)

If your Operating Agreement doesnt specify anything regarding those options, then its left to negotiation, assuming both of you are an LLC member and the property Title/Deed is to the LLC.Note : I am not a lawyer, am just a bored forum surfer trying to have a conversation.

Can I still declare the income as personal rental income since it’s a passthrough llc, or do I have to declare it as income through the llc?

Are you purchasing in llc or or your personal name?

Hey Alice, have you thought about partnering with someone who is a citizen and creating a LLC?

TTax allows multiple returns.I'm headed to the bench now as you've exceeded my risk tolerance and street knowledge since I would rather pull out my eyebrows than co-own real property with a unrelated party without a multi member LLC or a partnership with a CPA and attorney already in tow... 

Yes, non attorneys can draft their own deeds for their own sales, as long as the deed is not held by a company such as an LLC. 

Let's say I bought a duplex with a commercial loan under an LLC now and rented it.

Let's say I bought a duplex with a commercial loan under an LLC now and rented it.