Are there any cost-effective ways to handle this situation legally?

A financial advisor with real estate experience can help you plan effectively.

It’s a bit intimidating since it’s outside my usual scope of business, but I’m committed to taking the time to learn how to be an effective landlord.

For this protection to be effective, it’s crucial to keep your finances entirely separate from the LLC’s finances.

Why would you do anything that effectively pays you less than that?

In Portland for example we are not allowed to increase rent more than once in 12 months, and it must be less than 10% increase in "effective rent".

My current solution of using Baselane is by far the most cost effective and easiest, but it still requires that I spend time bookkeeping.

There's some mis-information and mis-understanding of AP, the process and it's effect in this thread.

Quote from @Frank Barletta: It is more cost-effective and practical to install a large-size TV and get the Nintendo, Super Nintendo, and Sega Mini consoles.It comes with games preloaded, legal, and each to swap in case something breaks. 

Really about growing a strong portfolio of solid deals.Now that being said, if you are a high income earner, well qualified, and can't find reasonably good deals: (i) you can connect with a well connected real estate agent for off-market deals; (ii) you might do a very narrow cost-effective cold call or letter writing.