Are you under rent control?

I was just wondering what banks would think of my controlling the day-to-day of the property and a parter only being passively involved past the mortgage signature with no real skin in the game.

You have no control over rental restrictions 

Not only do they work very efficiently, the tenants like the zoned temp control via remote control.

This is probably my major complaint as this is totally controllable.

(c) A water supply approved under applicable law, which is:(1) Under the control of the tenant or landlord and is capable of producing hot and cold running water;(2) Furnished to appropriate fixtures; and(3) Connected to a sewage disposal system approved under applicable law and maintained in good working order to the extent that the system can be controlled by the landlord.

We will now allow time held in an LLC that is controlled or majority owned by the borrower(s) to count towards the borrower's six-month ownership requirement."

Airspace over densely populated areas is very tightly controlled today, at air traffic volumes that are less than a percent of what air taxi services would create.  

I know a couple guys in my home town that served 5+ years in a federal prison for this.If you're moving ownership into a land trust that you also control and have no intention of defaulting or selling and avoiding the payoff, it could for sure be argued as positive fraud, but the intent would more likely be for something like asset protection or some kind of investment arbitrage - which could still be fraud.  

The parents can complete a 1031 exchange in their name and then after the fact contribute the property to a new entity under their control as long as the contribution does not trigger a "sale" event.