Rental Property LLC Ownership Timeline?
I'm relative new to real estate investing, and like many, I got my start by turning my primary residence into rental property. I have formed an LLC to take ownership of these properties to better protect myself and family, but was curious when is the best time to make the ownership switch? I have current tenants, so if I make the change during their stay will that void the lease agreements? By changing the ownership to an LLC, will that effect my chances of taking out a HELOC or Refinancing the property? If for whatever reason I decide to sell, and I still fall into the 2 out of 5 year rule, will I have to do an exchange to avoid taxes because it changed ownership to the LLC? Really I just want to make sure I don't forgot to do something prior to the ownership switch that could potentially come back to bite me. Any advice would be much appreciated, thanks!
BTW I operate in Texas.