I know the question is mainly focused on what sorts of special protections you will need as a landlord with a lease as opposed to a longer-term AirBnB booking, so let me answer that first. 

An LLC is cheap and does offer protection.

When our affiliates are using the company for business cards, door knocking, managing leads, performing acquisition, or disposition with our company does the LLC provide them protection?

Limited Regulatory Oversight: Fintech companies that operate without a banking license may not be subject to the same regulatory scrutiny and consumer protection measures as traditional banks.

I ask this question because I suspect at least 90% of people who post on BP about entity formation or transferring properties from their personal name to an LLC cannot articulate the risk they believe they are protecting against.

I hope you have a strong relationship and trust with this partner, or have some sort of lien against the property to protect your interest.  

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

For example, at one point I talked with a lawyer that thought an 11 month lease would better protect the landlord and the tenant from some of the changes to the new eviction requirements.Best,Eric

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.