Owning and LLC that owns the property I live in

[Jon Jones]

Question: Since I don’t want to put a bunch of money into a nice farmhouse like my wife wants because it will be a liability that We won’t have the time to maintain, can I do this: Start an LLC specifically to put a farmhouse in. Turn that property over to our rental management company to maintain, and then pay rent to that LLC. Of course it will be an under performing asset, (strike that, I mean liability) since we aren’t going to charge ourselves $6k per month in rent. What are the tax bennies, if any, and is this a stupid idea? Thanks for your answers guys!