The issue I see is smart contracts/tokenized real estate and traditional real estate investors is like oil and water.

Real Estate is not just about the money made money per deal- it is about the amount of deals per calendar year times the amount of profit.

Quote from @Havital Miltz: Normally you would set the LLC in the state where the property is.You have no tax benefits for setting up an LLC, it is more a protection from lawsuits and going after your personal assets, however not a guarantee....As a husband and wife you do not need to set up a partnership - IRS has special considerations for married couples for self employment, you could also apply that for a rental...Hope that helpsA joint venture is available to any 2 people co-owning real estate for investment purpose as tenant in common  under Proc. 2002-22 (unrelated to marriage) but it can't be owned in an LLC together. 

Are they just rubber-stamping or do they have real criteria?

I'm reaching deep into my psychic thoughts… I see it… A majority of people who respond to this post will be real estate brokers… I can see it!

Seriously—Pick a Property TypeDetached houses might be the easiest to work with, but the real key is committing to a property type.

I'm a newbie to real estate investing and am currently focused on intensely educating myself about all things real estate and how to get my first rental property deal.

It’s awesome to see you starting your real estate journey so early, congrats. 

If you come to the conclusion that you need to focus on your primary earning job but want to start investing in real estate then maybe a turnkey option would be best.

Real estate is local.