Business & farm

I agree with Opus.

So in direct answer to your question, "no".  It seems to us that your LLC doesn't have any income or expenses.  It doesn't own the property.

Although there have been some rulings that if the proper contracts are in place, you could hypothetically do it the way you are trying to do.  However, there would be no purpose in going through the legal work to do that.  It would be a lot of work and expense to set that up, and you still probably wouldn't have the "Limited Liability" that a LLC has (which is the purpose of the LLC).

For now, report the rentals on Schedule E (page 1) of your personal tax return.  If you want protection of Liability, get a good insurance policy for that.

If you want the rentals in the LLC, you need to transfer ownership to the LLC.  The would mean transferring the Titles, Mortgages, etc..  Also, the LLC would need to be registered in each State that is operates in.

As for the 'shared' expenses, just divide them up and allocate them between the properties.