Deduct partnership expenses without property in an LLC

[Shahad Choudhury]

Hello!

I started a business in late 2018 with a partner with the plan to do rental real estate. We didn't have the LLC formed quick enough, so bought a Single family home in our own names and started rehabbing it. Three questions:
1) If we end up selling instead of renting it with it still in our names, do we take all the profit/expenses in our names (to/from our bank accounts), or should we have the money go through the LLC's bank account, even though the LLC isn't on the title?

2) Does the above mater for being able to write off the repair costs as business expenses against the future business income?  I know you don't /have/ to have an LLC, its just for liability protection, but since we have the business entity, not sure if we should use its separate bank account to more clearly keep business money separate from our own personal finances so the IRS doesn't accuse us of commingling funds?

3) Is it possible, for tax/business purposes, to sign the property over to the business without actually transferring title? At this point we're hesitant to transfer the title since we would have to wait an additional 3 months to sell it if the buyer is using an FHA loan. Basically signing a document stating that this is now a business asset and in exchange we are granted $x of equity?

Thank you very much for your time, I'm looking into getting a CPA to review all this with, just wanted to see If my current research has even been in the right direction