Securing real estate for beneficiaries...

[Belinda Lopez]

Best appropriation of real estate for someone who is retiring....? My father wants to gift me his houses but wants to collect the rent until he passes and pay me a management fee. What would be the best way to set it up so that it doesn't get difficult filing for taxes. I thought of putting them in an LLC so that I can write off the expenses and report what he would receive. If he had a crisis, I would sell or cash him out and report that as well. What are the pros and cons; are there other suggestions? Thanks in advance!