Hello all -
I live in Texas and am considering leasing a house in my name (free and clear) to an LLC (of which I am the sole member) so that the LLC can then sublease to tenants. Would this protect the house from any adverse legal action given that it is not within the LLC’s body of assets? Would this arrangement not reduce taxes on capital assets of the LLC?
Many thanks,
Jeremy
This set up does nothing more than generate some revenue for the state.
Got it - thanks 
It is even worse that BLL suggests. If your property management LLC is operating with a true profit goal and charges a managment fee, then you will be effectively converting some of your passive income to self employment income with a higher tax liability to the federal government.
I am all for you helping reduce the federal budget deficit, but do you really want to do it this way?