I recently purchased a home in my own name and was wondering if I could lease the property to a single member LLC, partnership llc or a other type of Partnership, who would then use the property as a short term rental.
I'm looking for asset protection but cannot transfer the property into another entity without triggering the Due on Sale clause. Not sure if this position would stand against the business purpose and/step transaction doctrine.
What if I transfer the property to a trust? Trust rents to LLC/LLP or dies short term rental itself?
Do i have any options?
I also have a property in another state (NV) that is currently under a traditional long term lease.