Purchasing condo for parents who will rent from us.

[Steve Lovelien]

Looking for advice on what the tax advantages of renting out this condo. Not looking to make money on the rent, but inquiring as to what our benefits tax wise are? Assuming we set up an LLC and run through that. Any advice appreciated. Mom and Dad sold their house 3 years ago and Mom has really not been happy at the senior apts they moved into. We are putting in an offer today for a unit they like and seems like a great fit for them. Our plan is to charge them the same amount as they are set to pay at the apt complex. Thanks for any advice.