Renting property that isn't mine??questions?

[beefed88]

I want to rent out my father's house, I would create an LLC with myself as the owner. Can I rent it out without it being considered his income?

or any other ideas on ideas of how to rent his property with him receiving the income?

[Mr_Fiux]

Just FYI an LLC pays 1-2% of total earnings as a franchise tax. (In Texas) On top of your income tax and blah blah blah. Make a self proprietorship. Then rent it out for a service fee. (make it the whole amount) but just watch out though cuz your dad can be sued if anything happens.

[beefed88]

that is why I was considering an LLC for protection.