I am wondering how to easly  integrate rental forms ( I use WI Legal Blank) into my landlord software (I am using Simplifyem).

I can't even understand how any of this is legal.

You should consult an attorney or CPA for your specific situation.An LLC is useful for two things: anonymity and legal protection.

College rentals are relatively expensive and come with their own unique challenges:1) Roommates not getting along2) No one cleaning or maintaining the property3) Weekend party damages4) Etc...While you are considering what to invest in, recommend you also figure out the property Class you want to invest in.Why is Property Class so important for investors to understand and apply in their investing strategies?

Lenders will want to see the filed Articles of Organization, an Operating Agreement that you can get from your attorney or, if you're brave and it's just you on the LLC, some people use Legal Zoom or Law Depot.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I’d love to hear from anyone who has done this before, how did you structure it, and what worked best for both parties?

You need to know the law like the back of your hand, have policies and procedures in place to deal with problems swiftly/accurately/legally every single time, and be prepared to deal with tenants that push back hard or try to take you to court.

We have our own team for our properties and we don't manage for third parties, but I do see the cost. 

It would be worth it to me to offer an equity stake in exchange for cash, I'm just not sure how to fairly structure this for both parties.