Does placing the LLCs in a holding company establish a "parent company" relationship that would make it easier for legal action of a suing party?  

Hello BP community,  I’m helping orchestrate converting my parents rental property into a duplex and would like some insight since this is the first time attempting this. 

After that, I can consider them gone and take control.

These professional softwares literally write checks for you (like online banking) and have controls in place so you can have employees safely make payments for you without them having true banking controls.

By the end of the summer, I was able to generate a 400% return on my initial investment of $1000, making $4000, and use it to alleviate the financial stress of both myself and my parents.

My mentors advice would be to stay in my lane and only deal with things in my control. 

It's always a good idea to change the locks between tenants (you indicate this person just walked through the door).Some landlords will go through the eviction process before attempting to rent again just to make sure the property is legally back under their control. 

I agree the markets have lost control and spiking the rent is a risky move.

I would recommend putting your money into a cash flowing market as a GP yourself to give you more control but LP is always an option. 

Master meter utilities are the bane of any investors existence, unless you somehow figure out a system to monitor and/or control usage.