They make their money off of real estate agents, but real estate agents are the worst people to make money off because they are highly unreliable and in and out of the business when the market changes.Their target should be the consumer with higher levels that they can subscribe too for data, since Zillow is linked to the MLS now which makes their data somewhere more reliable.

He talks about obtaining private money.

If I were the neighbor, it sounds like I'd be the only one bringing money to the table so you could get something you want.

@Yooni Choi managing from out of state (OOS) with ZERO previous landlord experience - probably won't go well.You WILL make a lot of mistakes that will cost you money.

Money is money.

In fact, many, though not all, of these “experts” are washed up and no longer active in the market.

How much money do you have for a down payment for a new rental and how much can you borrow? 

That likely means that they are not good with money management which you are likely expecting from him.To answer your question, if you are doing long-term rentals, the LLC taxed as a partnership is likely the go to route.Best of luck.  

I know they raised a lot of money though

We do have to come up with 40-60% of the LTV through investor money!