The LLC doesn't provide much tax benefit versus the schedule E you are currently using.
You can file a separate partnership return for the LLC and transfer all of the properties over to it and the tax rate may be a little lower. But the paperwork hassle is a lot higher.
The way that you have been filing is honestly a pretty common way to handle tax filing in your situation. The schedule E avoids self-employment tax and lets you use the losses against regular income if you actively participate in the rentals.
@cabdu
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