Could the shared management function create a "common enterprise" argument that might compromise the intended separation between series?

Common sense. 

Whereas if you and the other investors held ownership as TICs (Tenants in common) then you could sell your portion and do a 1031 of your portion while others did something else. 

Quote from @Anil Shah: Quote from @Derek Brickley: Pretty common, you can definitely use commission as down payment conventional loans and not have it count toward IPC as long as you're on the loan. 

My ultimate goal is to build a portfolio of cash-flowing properties to achieve financial freedom.I’m currently seeking mentors who can guide me through this journey and help me avoid common pitfalls.

A common strategy I see with diversification exchanges, is that the investor will purchase the first property cash and the second with a mortgage.

I am a voice of common sense and help them come up with the best way to manage STRs.

In a previous post, I discussed the difference in each of the most common cost segregation study approaches.

Rental arbitrage isn’t common in my area ( high point North Carolina) but I was planning on starting in another state.

My business partner owns a roofing company but has weak credit and more limited cash flow.An LLC is a common choice for partnerships since it protects personal assets and simplifies tax management.