Hi Charles, I think you made the best decision in terms of an exit strategy. 

They don't care about the cash-flow, The write-off's are profitable and there looking at the out-sized equitable gains. 

You want to be careful not to bite off too much on a first purchase so maybe if more four units or less or available that could be a better starting point with less risk and more ability to learn without potential loss.

It’s a complex situation that requires careful consideration.  

Rental fraud is prevalent in our industry so be careful.  

"Separation" may not be possible, but I'd like to think of an LLC as an "extra layer" of protection, although you're not completely isolated from risk... just makes it harder for others.

Would they know/care if the money comes from someone else's account?

@Lucas Schlund the same thing that happened to all the STRs in NY City when their ordinance went into effect, as well as many other cities.Owners must comply and the government doesn't care about your potential losses:(

I am taking care of the rentals and 2 teen daughters.

These have two very different next steps.If it is a condo, you need to check your condo docs and see where the unit ends and what is common area. if its a leak in a pipe in a wall that is typically common owner and the condo association should take care of it.