The idea is intriguing, but online research has yielded conflicting opinions and "pay to play membership plans; can't get a straight answer whether this is legit or scam and not worth the front-end subscription payments.  

Equity is a bonus.

Those small costs add up and they do not follow though with holding security, or communicating with tenant as I would like but play God rather in deciding how to apply the law.

I understand the cash situation, so maybe this becomes a stacking/1031 Exchange play.

I have started to understand the business I'm playing in better.

Not an attorney, nor a CPA, and I don't play one on the internet, BUT, things to consider if you would want to run revenue through your LLC...The LLC would need to be tied to the property in some way, either as the owner or manager.

Profit-sharing in the 20-30% range is also common in situations where coaches play a key role in creating wealth through property investment.”

Obviously the laws in different places may vary but I suspect that is how it would play out in most places. 

How are we seeing this rule change play out in practice?

When it comes to investment brokers, somebody has to play devil's advocate or tell you no.