Until then, it seems current tenant is on the hook and my income stream is protected by law.

Consult an attorney or CPA to structure this correctly and protect your LLCs.Hope this helps and be careful!

While designed to protect tenants, rent control has adverse effects on the broader rental market.

I never investigated further.I always questioned his recommendations because at the price/rent point he was advocating, the maintenance/cap ex would consume too much of the rent unless actively self managed.  

@Brady Hales @Jason Marino, aren't you supposed to register this WY LLC in the state you are living in as it is considered doing business from that states and then losing the anonymity purpose of that WY. my understanding is that the reason to put it into a irrevocable trust is for asset protection purpose as you do not own these properties anymore. what am I missing ?

While it uses partner banks to provide banking services, your FDIC-insurance protection may be limited.

If wetlands are involved the process can get pretty time consuming, and costly but with your 3 - 15 acre lots you may be able to avoid impacting them which will save you a lot of time and money.I hope this isn't too confusing.

She says that it won't be shared, but of course if it is for their records, it is also to protect them in case there is litigation.

Question: does anyone have any suggestions on how to protect myself if this happens?

Separate LLCs and bank accounts are needed for asset protection, bookkeeping and tax return preparation.