Make sure your real estate agent isn't just about closing that one deal but understands the benefit of protecting you on each purchase to ensure that you keep buying because you are enjoying success.  2.

We are currently working hard with legislators to provide protections for parks both locally and in NYS.

Where is vacancy, maintenance/cap ex, asset protection, PM (include it even if self managing as you deserve to be compensated for your efforts), utilities, misc.  

Holding properties in an LLC (or other legal entity) can offer valuable protection for your personal assets, so I understand why you went that route.

You certainly want to vet your property manager to ensure they are focused on balancing asset protection with tenant satisfaction.

While an LLC offers liability protection, it does not change how taxes are reported unless treated as a partnership or corporation.

How do I protect myself in this situation, while also helping a relative? 

(Unfortunately, the investor fell for this gimmick and did NOT get their own 3rd party inspections, appraisals or even visit the properties they were buying, against our best efforts to encourage proper due diligence and follow our check list for their own protection.)So now some people are stuck with properties worth half what they paid (not all RWN members), with no renovation done, and constant repairs and vacancies. 

Finding some sort of value-add aspect or buying at a discount means you either create or walk into equity, which protects you.

Given when a return is audited some of these DIY firms note that (if audit protection is purchased) they will do a full engineered study to support the figures used within the audit.