Having clear, mutually agreeable terms can prevent misunderstandings and keep your options open.It’s always best to consult a real estate attorney to ensure the contract aligns with your interests, particularly if you foresee independent deals.

Instead, you have a section of the footing for the two bedrooms that isn't deep enough to prevent frost from getting under it.

Do you have something in your lease preventing tenants from AirBnBing to others on Game Day, Graduation weekend, etc?

I think any bad actors should absolutely be shamed and prevented from scamming people (not saying this happened here since we don’t know all sides).

Most banks won't lend when someone has an outstanding mortgage so would the owners be prevented from buying another house later because it still shows the zombie mortgage as a debt.Carolin,Based on all the ones I have done, most of the owners have been delinquent in their mortgage payments in excess of four years. 

It is true a manager will likely take around 20% but a good manager can save you money through effective preventative maintenance, and can gain revenue through better pricing, marketing on more channels + direct bookings, and more.  

But I do keep boundaries to prevent micro managing.

They are normal to think about, but these kind of questions are going to give you limited beliefs and prevent you from moving forward on a potentially great property.

Let's say someone was bungee jumping off a balcony railing and the railing broke and they fell, injuring themselves.They could sue the property (ownership LLC) because the railing was "not secure".They could sue the manager (management LLC) for not ensuring the railing was secure.They probably will sue both and let the court sort it out.I don't see how 1% ownership of one LLC to another prevents any of the above from happening.

If your lease doesn't explicitly address pest control responsibilities, it’s worth reviewing and considering adding a pest clause in the future to prevent disputes by adding every single pest.