If Y remains independent, any legal or financial issues it encounters won’t directly affect the parent LLC (X).

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I also think moving out for college provides great life experience especially for independence.

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

In your example of being called into the office you were obviously working as an employee of an investor or PM however this example doesn't work well when compared to the function of an independent management "company".

Earlier this year, Bigger Pockets published 30-Day Stay by Zeona McIntyre and Sarah D.

I made it easy for potential investors to see themselves working with me by constantly giving away free content.Giving talks and writing a book (not yet published) were also big parts of building my thought leadership brand.

Maybe engage an independent financial advisor (not a stockbroker or insurance salesman DISGUISED as a financial advisor! 

@Carlos ScarperoI also recommend reviewing the CFPB opinion recently published on land contractsTo me I see no benefit anymore with land contracts as many states will require you to foreclose.

While Obie and Steadily might not currently have options, exploring other brokers and independent agents is advisable.