Furthermore, you should explore checkbook control versus having the custodian make all the investments.  

he has also asked for each electrical panel to be labeled and also gas meters to be labeled.

Accept whoever applies" is an idea that would cost you a bucket of money in the long run.Bankruptcy is usually a "no" unless it appears to be a one-time event caused by something out of their control such as a massive medical bill or a business failure. 

Yes, I would contact the pest control company and demand they pay the cost of repairing this.

Quote from @Yemisi Dinkins: As a property owner, I would never sign a Master Lease because I would give up control of the property so someone else could profit from it.

Gov. mandates, laws, regulations, these are tools to control WHAT the product/service is, think safety focused. mandating no lead in toys, or fall-arrest gear for roofers, things like that, THAT is where it works. 

All the pest control companies I've called (Central MA) said they don't open sheetrock.

In CA currently only MF properties are rent controlled.

I looked up launch control, batch leads, and a couple of others.

I come from the world of 100-500 unit properties where this was not the case and every property had it's own separate accounts that we controlled as the owners, but now having been owning and managing 1-80 unit properties for 4+ years, trust accounting is the best way to do it.