No. The only way to bypass the Passive Loss Rules is to be a Real Estate Professional. Owning property in an LLC doesn't make the losses any more deductible.
If you owned the property in a Single Member LLC, your Schedule E and related forms would show no difference whatsoever. If you owned it in a multi-member LLC, the losses would still be rental real estate losses. The same rules.
If you are not a Real Estate Professional, bear in mind that the suspended losses will be released when you sell the property (regardless of your income). You can also use the losses to offset other passive income, such as an investment in a partnership.
The IRS published this handout. May be a few years old, but good info:
https://www.irs.gov/pub/irs-utl/33-Real%20Estate%20Professionals.pdf
