I'm creating a site for the LLC I recently started for real estate investments and am trying to determine if there is any legalese or regulatory info I need to add. 

There’s also a lot of regulatory red tape, licensure and inspection mandates, and some weird lease restrictions. 

The fee should include the 1031 Exchange documents, parking arrangement documents, brand new single member LLC (SMLLC) for holding title to your property, separate, segregated, dual-signature Qualified Trust Account (QTA) for/when any funds are held, unlimited consulting to successfully complete the Reverse 1031 Exchange (including any wrap-up issues that come up years down the road), and, in our case, government/regulatory oversight. 

I don't see a reason why an individual couldn't do likewise borrowing against a secured asset, but not everything about REI is strictly rational, and for all I know there could be regulatory restrictions against even trying this sort of thing.

The real question is not if this meets or doesn't meet the legal definition of a security in some attorney's or investor's opinion; it's will the SEC or state governmental regulatory authority consider it a security, AND in case of a lawsuit will a judge or jury consider it to be a security.  

Failing roofs and furnaces over a 15 year period, changing regulatory requirements, etc could upend your plan to pay-off each property within the 15 years.   

Here's a look at the history of the case and how it shaped the regulatory and legal environment that agents operate in today.

This is just my opinion...Done right, you can be successful in Chicago (or Chicagoland,) even with high property taxes and the current regulatory environment.

Many are just trying to be as quick as possible, while navigating the regulatory and supplemental requirements, in order to keep their license.

It is their experience, expertise and government or regulatory oversight that really matter.