I don't want to spend all my capital, but I think I could potentially refinance and get some back.

Wardrobes were in back in the 1930's

If you have nothing, and make nothing, you declare bankruptcy, wreck your credit and try to go back to renting.

Regarding next steps, I agree that the best way to approach this would be to have one person act as boots on the ground and the other person handle the back office related items.

So, he already had people & processes in place when he moved back to California and continued to DIY manage his rentals.- It's also interesting that he doesn't want to DIY manage anymore.

If you need help with landlord laws, house backing strategies, or traditional MTR investing specific to New Jersey happy to help.

Cash back to me up front.

Going back to the OP, I'm not sure what fees NY charges for LLCs and how many properties or businesses he has but I think these "asset protection" companies overcharge people. 

If I needed another RE Trust I would go back to them. 

Make your renewals 15 months to get you back to peak season.