Should I put my college daughter on the lease of my property

[Renee Thomas]

I own an apartment building as an LLC - one unit is 6 bedrooms and one unit is 5 bedrooms. My college daughter will be living in one of the units with four other roommates. She will live there 3 years. We intend to keep the property as one of our rentals after she finishes college. Unsure if I should put her on the lease? After doing some research I see three options:

1) Put her on the lease and have her pay fair market rent (same as other girls) to our LLC.

2) Do not put her on the lease and only make the lease between us and the four other girls and reduce the rent on the lease to reflect what those girls are paying and move ahead considering it as a rental property for tax purposes.

I've read that certain situations can make a rental be considered personal use. I can only find examples of houses, condos, vacation properties. But I can't find an example of an apartment building with multiple units and multiple people within units. And I can only find where personal use vs. rental use applies to days out of the year - but what about a small personal use within a much larger building every day of the year.  

Ideally, we would like to not have to pay ourselves rent and increase income and still take advantage of all the rental prop deductions and expenses. 

Thanks in advance for your thoughts and insight!

Renee