As a Baselane user and fellow landlord, I really want to understand how this went down and what I can do to protect myself.

If you have one high earner as a W-2 I would recommend the other switch to managing the Real Estate side of your wealth ASAP. 

If you added in the cash you should have to protect against contingencies, the actual return goes down (or the risk sykrockets, your choice)- If the $300K properties cashflow, definitely a better bet. 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Good insurance, particularly with an umbrella liability policy provides very adequate protection on smaller assets. 

Would be curious if anyone made the switch to Buildium and how it is going?

But any improvements are at your risk.. the redeeming party just owes you your cash plus in our state 9% and any VERIFIABLE expenses you paid to protect the asset.

I think it only makes sense to switch if your current lender is not meeting your expectations, and the rate/fees are significantly different.

There's an adage in several sports about critical things like protective gear: "a $10 helmet for a $10 head."

The big one to read up on is the NYS Housing Stability and Tenant Protection Act of 2019.