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Updated over 2 years ago,
Operating LLC but home under my name
Can I create an "operating LLC," keep the house in my personal name AND still be protected?
I ask because I just purchased a property in Austin, TX. In TX, we don't pay income tax. We pay property tax. To protect homeowners, you can file a homestead exception and it caps the amount it can raise each year. I want to rent out my primary residence on Airbnb when I'm out of town but don't want to expose myself to a lot of risk (if someone gets drunk and falls down the stairs for example). Is this a good way to protect myself?