Partnership question for investment deal in Austin, TX

[Diego Corzo]

Hi friends!

Here is my situation. My 2 friends and I bought our first investment property in Austin Texas. Fortunately we achieved to follow the 1% rule. 

We got a conventional loan (20%) and each of us gave 33% of the downpayment.

I couldn't qualify for the loan so right now I am not on the loan or title of the home. Only the other 2 are.

We want to put the home under a partnership/LLC that is under our 3 names. What will be the best way to structure this? Would we first establish the LLC and transfer Title to our LLC?

The mortgage will still stay under my other friends names correct?

Thanks for the help in advance.