No harm, no foul.

Will harm your reputation as a landlord.

I highly appreciate anyone willing to respond or maybe get more info about this company and see whats  good for me as borrower  of  hard money from this company, or any other harm money lenders you know. 

I actually believe it would be quite burdensome and harmful to responsible property owners and renters alike," realtor and property owner Kayla Bisalski said.

$30k grant cannot harm me  :). wish I was in NY State...Congratulations once again and happy investing....

As far as insurance, I'm not certain how much your regular homeowner's insurance would cover in an STR situation (although honestly I'd be surprised if that negated the contract), but Airbnb holds $1M in liability on your property, and an additional $1M in property and bodily harm.

When I reached out to this place and asked some simple questions the person who answered the phone could not tell me if they were capable of what I was asking.Is there harm in using places that are not local?

So, setting up bank accounts isn't necessary because the money is all in 1 LLC, and money can't be sued (it doesn't harm anyone).I am no attorney. 

You will be surprised how little a $5 Million policy will cost,,and that is what can protect you (and the insurance company will also defend you in a lawsuit because of that).I read people wanting to form LLCs, series LLC's, etc etc,,,for the average investor, it is just a big waste of your time and money.Remember a conforming mortgage (30 year fixed rate) are only for individuals, not for LLC's or other entities,,,then people say they will finance in their personal name and move into an LLC,,of course that could trigger a due on sale clause, but also that is a waste,,if your financing the property in your personal name, your tied to it.How you stay out of liability issues is doing things right, don't have a handy man doing electrical work, and make sure you take care of any issues that could cause harm to anyone.

These things are symptoms that could potentially do you greater harm.