Focus on the things you can control.

As the NOI should be growing over time (more rents, better expense controls), the value would improve. 

The secret is to have some control over your desires so that you can live a good, affordable life.

Stop worrying about things you can't control... and focus on what you can.

If you own rentals in a tax defered account you have to have a check book control account.  

Secondly, the rent control issue in Los Angeles.

With the property under my control, I would look for ways of improving the cash flow (renegotiated terms with the property manager, or new property manager, increased rents, etc.) but I don't anticipate being able to do better than break even in the short to mid term.  

You want to control everything, own nothing.As you noted, transfer of title will not protect you against financial situations.As to the question asked in the title of your post, quit claim deeds are used everyday for many reasons.

Lawn care, trash, pest control ..Property management ?

While it's possible, if you've never organized the "dance of the renovation" before, and you're not there, and you have a controlling personality...That's a recipe for chaos.Just one lady's opinion.I wish you well.Stephanie