Con, upfront cost. can be complicated. risk of fines and jail time if you violate SEC rules, though rare.

If you do want to evict, a partial payment complicates things.

This entity does NOT generally file a separate federal return and all of the activity from it gets reported on your personal return and will undoubtedly also be shown on your state income tax return (depending on your state requirements, as some states have no individual tax return requirements).For IRS purposes (and many states) by default, a LLC that's owned by two or more people (except for husband and wife in a community property state), is usually taxes as a partnership and it has to file a partnership tax return.A LLC can also elect to be taxed as a corporation and even as an S corporation, but that's too complicated of a topic for this discussion.Even if you wind up having a Disregarded Entity, many states might have annual filing requirements (such as California, Texas, Nevada and many others).

This is where it gets complicated.

My mother in law wants to buy a new house, i own 2 SFRs and would love to possibly partner with my in-laws (we have good relationship lol) with their old house to rent it out, and split the profit. or somehow get this...

I am just learning about DST however it seems like it locks up my funds and is complicated compared to what I am used to which is simply managing rental properties. 

That might complicate things.

@Philip OlivierYour tax profile is a little bit more complicated and such I think you should hire a professional(I am a little biased).Since you make $100,000 from your full-time job - you should be eligible to deduct the losses(if you have them) from your rental property so long as you don't have significant income from other sources including the short term rentals. 

It will be considered a civil matter with eviction as the only optionThe police are not social workers or a judge looking for an ad hoc solution to a complicated problem.

It gets more complicated if taxpayer used the proceeds for multiple "buckets".