LLC (1065) and 2 rentals

[Gretel]

LLC has 2 rental buildings, one is owned and mortgaged by the LLC, the other one is rented from someone else. Both of the buildings are rented to other biz. Normally you would use Sch. 8825 only if you own the building, right? ...or would I use Sch. 8825 also for the rented one? I thought all the income and expenses for the rented one just goes on pg. 1 of the 1065. Any thoughts?

[Jesse]

It is still rental real estate so I would think both would be reported on Form 8825 with the gross rents as income and rent paid as an expense on the form 8825. Just my thoughts - no research.