Renting Underwater Property and Liability

[Keith A.]

I have a situation where I need to rent my fathers property that is currently underwater. He needs to move due to medical reasons. It looks like we can get enought to almost break even.

My question is, is it a good strategy to put this property in an LLC to protect him? He has a sizable nest egg and woudl not want something to happen to it due to a tenant suit from this property.

Also, are there any circumstances where the lender would call the note by doing this?

Thanks!