Part of the obligations as the managing member is to provide the property management for the company's property 123 Street.  

Even in a multiple member LLC if one member is found to be negligent the LLC will still offer no protection and the plantiff will go after the LLC to the limits of the members ownership in the LLC as well as all other assets. 

There are very strict rules about how the money in these can be used, for example, I know that some of the restrictions don't allow you to use the money where a family member is going to be involved.  

If you are a Board memeber, then I would use the CMA that is part of your MLS, and take classes at the local board from beginner on up to perfect your abillity to truly do a comparative study. 2nd , and as a Board member I might use toolkitcma.com as a program to automate the search and reporting.

The BP member I know is a newbie with no real estate experience.

One of the bedrooms was painted a different color, which I verbally approved with the tenant and in the same conversation she agreed the room would be re-painted to the original color before she moved out.  

Other option would be re-facing the cabinets which in the kitchen would probably look way better (all SS appliances, granite counters, new tile floor but cabinets are the only dated part) but pretty expensive ($4-$6k).  

@Jerry Padilla is a bp member I have worked with who does a lot of these.

If after speaking with an attorney you realize you need a partnership for creditor defense, then a partnership (still an LLC, just not single member) is the way to go.You will also want to first check with your state's filing process prior to obtaining an EIN.

As a renter these would be red flags that the place either a) is fake and is some sort of scam, or b) isn't managed well as the owner can't advertise it properly with different prices in multiple places.