With the new rent control policies, there is zero incentive to lower rent as it may take years before you could recoup that with the minimal increases they allow. 

One of the primary issues is the impact of rent control policies.

So that was my first partnership, we bought houses and I controlled the whole process and I learned so much.

I need to investigate more about how to control a LLC or trust like you mentioned.

It is complicated because these investments are long-term, illiquid and completely out of your control.  

The listing agent has already done all the work to streamline the sale on their end, set expectations and control the process.Anyone who has ever worked for 4 months on a FSBO and then the seller decided they are not going to sell after all, knows what I am talking about.

Dave mentioned control in the TIC but alot of times that is an illusion.

Optionally, use an irrevocable trust for added estate planning benefits, though it limits control.

First step would be to talk to the controlling government body about what you can do with it.

No rent control.