My 9 year old daughter still has roots there.

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.

Pest control should ALWAYS be the landlord because you want to prevent pests.

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.

So they probably want to establish some roots there for several years3.

The better question is to figure out how to get insurance and resolving the reason that is preventing it.

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