Tax filings with properties in and out of LLCs

[Armand Farr]

Hi BP - need your help with this situation:

- Properties A and B: Both were held by three partners in our own names individually (never held in an LLC)

- Property C: The last property was held in Acme LLC with FOUR, different partners then transferred to our names individually upon refinancing because lenders wouldn't lend

Questions - Gotten conflicting answers on all of these
1. Property A, B, C: Do we have to file three separate partnership returns or can we just file individually? A and B had the same partners, C had one additional partner. Or can we just distribute the profits and losses to our returns via a schedule E without the partnership returns?
2. Property C: Do we need to file an LLC AND a partnership return for the last property given we held it in an LLC and individually?
3. How to Not Get Killed on Costs: If we have to file partnership returns for all of these... that's a lot of money and it burns through cashflow on relatively cheap Houston properties. Does anyone have a better way to do this?