Unless you are preparing a partnership Form 1065 where the business start date is listed on the return, It's not critical when you established the LLC as it won't show on a Schedule E. Also, if you were filing a Schedule E in previous yeas and the only thing that changed was the legal status of the entity, it would be appropriate to continue to use the old depreciation method. So, you can enter the date you put the rental property into service as the start date for the LLC.
If you are filing a partnership return or you don't want to do what I just suggested, you will subtract the accumulated depreciation at the time the LLC was formed from the cost of the property and enter that as a new asset. It will then be depreciated over 27.5 year for a residential rental property. So, you will have a smaller annual depreciation amount spread out over more years. Also, if the fair market value of the property was less than the adjusted cost basis when the LLC was formed, you would us that as the basis for depreciation for the LLC.
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