This is illegal in NYS, we have looked this up and did  significant research on this and we have a law suit against them in regarding this. 

I wonder if Airbnb will continuously let these big fish to swim or eventually do something.

I'm not sure about the potential for liability in a wrongful death suit if somebody is injured or killed in the fire, but definitely would not want to find out personally, nor would I want to live with that on my conscience.  

A law suit from a tenant can put your other assets in risk if they are inside that LLC. 

You can find SF properties that already have in law suites, garage units, etc, and now legally rent those, so it should increase the appraised value significantly.

I recommend outlining your financial goals and definitely exploring work transfers to determine what suits you best.

Then I'd start by saving up, so you can buy your own house and rent out rooms in the house (or buy a place with a suite).Talk to your parents about what their goals are with the properties, what they like and what they don't like.

We’ve seen investors struggle when properties are in areas more suited for first-time homebuyers than renters.

But to answer Cheryl's question - you can file suit against them but you may be throwing good money after bad  - but if they are continuing to raise money in their name then there must be something there.

Some – almost invariably small ones that did not or could not adapt fast enough to suit their regulatory Masters – had to be sold for pennies on the dollar to banks that are Too Big To Fail.