STOP.
Half of the responses here are incorrect based on your facts.
As noted by @KrisD15, if the LLC does not hold title to the house, then any expenses, depreciation, income, etc., is NOT reported on the LLC form 1065.
Until, and if, the LLC gains title to the house, the partners must individually report all income and expense on their individual tax return Sch E.
It is possible to transfer the title to the LLC, but you will need professional assistance here. If the house does get titled in the LLC name, then it is treated as a contribution to capital. There will be special tracking of depreciation as the cost and FMV will differ and the IRS wants this tracked. At the time of transfer, there could be what is known as built-in gain. The K-1 has a specific question that is asked related to this.
So for now, only the individuals report the activity on their individual return. Should you want to transfer title, I recommend you get some professional tax advice.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
