Buying First Property - Rent it to the LLC?
Hello everyone! I hope you are all staying healthy during these times. I have seen a couple questions on the topic of where the business owner rents a property their LLC owns, but I am asking about the reverse.
Right now, I am in the beginning stages of buying my first rental property. I know that I do not what to be unprotected, which is why I have formed an LLC for my property, however, I am still unsure how to go about using the LLC to protect me when I am getting a personal, not commercial mortgage for the property.
I will be the technical owner of the property, not the LLC, as the mortgage would be under my name. Is it possible for me to rent the property to my LLC, with a lease stating the LLC is free to rent to others, in charge of all maintenance, etc, and then pass any liability from renting to 3rd parties on the the LLC?
I hope this makes sense. Looking forward to hear everyone's thoughts!