Can I claim my dad's property income on my tax return?

[Vincent Z.]

My dad just purchased a 2 unit property and everything (mortgage, deed) is under his name. He is letting me completely handle the management of the property, finding tenants, collecting rents, etc.

My question is can I claim the rental income on my tax return even though I do not own the property? I currently do not have a W-2 job so I would like to report this as income in order to qualify for a loan later on. 

[Franklin Spees]

If he is allowing you to essentially have exclusive control, liability and benefits maybe he should just deed you the property. Otherwise, you might consider setting up a management agreement between you and him (watch any state licensing requirements) and have him pay you a fee that can equal anywhere from 6 to 100% of the income. Then you can just record that as your ordinary income. Be sure to consult with your tax professional on that one. Good luck.