Simultaneously, if this vacancy is a high percentage of the buildings total SF, I would market the property for sale to an owner-user who may be able to fill the vacancy at preferred rates while gaining investment income off the other tenants.

Assuming it will be Single Member LLC (you as a member/manager), it will come back on your schedule E anyway, so only thing you loose is $800 in california and bit more of paperwork but that preps you for future.Note - this is a very high level advise and mostly a personal preference. 

That's why I prefer hydrogen elec production over solar/wind. 

At the same time, I prefer to minimize liability, though I’m not a seasoned investor.Is this one of those calculated risks that investors eventually become comfortable with, or should I prioritize limiting liability from the outset?

Since I am new to this space, I would prefer to have as safe of an investment as possible then graduate to the more sophisticated. 

I haven't worked with anyone since we prefer co-hosting but know oodles and oodles of hosts that do it.

If it's a single member LLC then they prefer to have an officer sign, which would be you and your legal name.

My attorney says he prefers it when there is a business reason for the state of the LLC, and he said either your home state or where the property is located is suitable.A much bigger topic is whether or not having an LLC is a good strategy given your personal situation. 

We find that our investors prefer to see deal specific details as opposed to a long presentation talking about the company, strategy, etc.   

To be honest, all of them work, it just depends.What I have been learning over the years for me is I prefer 2-4 unit properties.