But the premise is that, I being a responsible and code abiding investor will take over liabilities to the city so that all responsibilities will be shifted over to me.

Is there any way we can shift our liability for this rental away from us personally and towards our LLC via some sort of a contract between us and the LLC?  

So my approach has somewhat shifted over the least couple of months.

You have to work really hard to find the unicorn that still cashflows, you have to wait until the numbers change and start to work again, or you need to shift to another strategy.

I would shift focus to the OOS market for now.

We have a few rentals in NY where we live but now shifting our focus out of state for obvious reasons.

And the management fees can allow a sponsor to "keep the lights on" versus a sponsor that has shifted all compensation to profits.Also, the 50% investor/50% sponsor split is extremely uncompetitive versus other options.

I love real estate but am actually currently shifting from active to passive and/or larger scale partnerships. 

This was a transition from a flip to a BRRRR due to the market shift.

This was a transition from a flip to a BRRRR due to the market shift.