They can keep all the profit and in exchange, you learn in the real world, with a real deal.If you don't have any money, offer to work for them for free.

Anyone looking to share their knowledge in exchange for an internship, let me know.

Between the time required to set this up and the burden of depreciation recapture and prorated gain it might be more worth your while to do a 1031 exchange. 

Good, helpful exchange.

If the latter is true, can you word your subscription agreement so that if a cash call is required up to a certain amount, you are not required to invest additional capital or, perhaps, if a cash call is required, you can opt out of participating in exchange for a dilution in equity?

And few exchanges usually . means no economies of scale and you can easily over pay for an exchange of this kind.

I know under the Lender Compensation Rule or whatever it's called that you cannot explicitly pay or give something of value in exchange for a referral, but in this situation the lender being referred would not be paying on a per lead basis such as $50/referral.

Don't be afraid to hustle and do the dirty work in exchange for being taught the ropes.

If that's the case, perhaps you could look into finding an opportunity where you can be an onsite manager of a property in exchange for a discount in rent, thus earning a little extra money in the form of discounted rent and also getting to learn property management which is a very valuable skill in RE investing.

It’s a very similar case of to a Tenant-In-Common (TIC) arrangement where an investor has 1031 exchange funds and wants to parlay that money into a syndication.