I completely agree with the advice and I'm perfectly okay with not charging him rent.My concern is that by treating this property differently from all the other units in the Series LLC, I may be opening myself up to a situation where I'm weakening my LLC protections even if I keep the financials separate and in order.

Brokers protect the interests of all of the investors, but investors only want to protect their own interests, which can leave some investors out in the cold. 

I’m not sure why traditional agents offer any special litigation protection.2.

Not only does it protect you, but it also provides the opportunity to open checking accounts for each property under its LLC, which will make tracking income and expenses much easier.

There are less restrictions in North Las Vegas and Henderson.The city is very protective of the big casino/hotel operators, and rightfully so. 

Using escrow company & title insurance will protect you from an unwanted surprise.

This ensures that you protect existing tenants from direct competition and support their growth; this will also foster their trust in the ethics in which the property is managed. 

The bank could sell these houses so much easier if they protected them just slightly. 

@Francisco Pineiro To protect yourself when working with contractors:1.Start with a Clear Scope of Work (SOW): Ensure every detail of the project is outlined in writing, including materials, timelines, and deliverables.2.Use Milestone Payments: For a $40K rehab, consider this structure: 10% upfront, 30% at halfway completion, 30% at 75%, and the remaining 30% upon full completion.

@Tom Chen is pretty much correct in explaining how it works and how your investment is protected.