Master LLC/Series LLC

[Iva Robinson]

Hello

I am a real estate investor for Illinois. I have purchased 2 single family homes in 2016. Both will be buy and hold to generate income. I am a have formed a Series LLC, looking to obtain more properties and form additional Series LLC's.

When I purchased the second property, I purchased using my Series 1 LLC, but when I purchased my first property, I did not purchase the property under a Series LLC, but under the Master LLC.

Is there a way to transfer the first property to a Series LLC? Is there any legal ramification if the property remains under the Master LLC and all other properties under Series LLC's?

Thank you in advance for assistance.