Rolling a home into an LLC

[Phillip Daly]

A partner and I own a 22 unit complex under an LLC. We recently purchased a house and plan to purchase it under 1 of our personel names so we can take advantage of 30 year terms.
Our plan is to roll the house into our LLC  in 60-90 days so that ownership is under the LLC and we both can then have 50% ownership.  
My Questions:

1. Is this legal? 2. Would we both gain 50% ownership once rolled into the LLC? 3. Can we refinance under the LLC or would we have to roll it back under the personel name?

Thank you for any guidance!

Phillip