It's discouraging to offer the same advice over and over and then rarely see it implemented with a followup post down the line.I hope you'll continue to be the exception!

Hi BP community, I am trying to implement Profit First method, which suggests to open multiple accounts; tax account, operating cost account, profit account etc. 

City recently implemented strong regulations on Airbnb.

Safety Measures: What are some essential safety measures I should consider implementing, such as pool alarms or fencing?

Though I did have to switch umbrella insurance companies as USLI implemented a $1million max for anyone with any pools at any of their rentals. 

@Brendon Bourne would need more specific details to comment on.Otherwise, suggest you hire a consultant to create an implementation plan.

Can this be implemented immediately?

If you don't, you'll be better served by taking care of the other forms of risk mitigation (which you need to implement anyway) and not complicating yourself at this stage with an LLC.And be careful when transferring property with a QCD, you'll break the title chain and risk loosing title insurance.

Higher powers are most certainly not trying to keep people from owning homes (though policies like rent control often have the opposite of their intended consequences, I choose to believe that their implementation is a misguided attempt to do good, not evil intent to reduce affordability), and one silver lining for housing affordability is a wave of laws that effectively drive top down zoning allowing for multifamily construction, ADU construction, or other development. 

Single-family homes are great but you need to watch up for stringent HOA rules that do not allow STRs!