So you miss out on market participation.

A properly structured syndicated offering will be an LLC as is, therefore, from an asset protection standpoint, there is very little point to forming an LLC just to participate on the LP side.Now, if you are trying to pull partnership money and charge the partnership a management fee, which sort of makes you a feeder fund into the syndication, then there are a whole host of questions for an attorney. 

As things moved slower and maybe missed out on some good tenants not wanting to participate in that process.

The IRS sets the rules, and they are available on their website:https://www.irs.gov/retirement-plans/plan-participant-employ...

Search the lender for deeds of trusts and you'll see if they do business.BTW, any entity that offers or requires a participation in profits that is a lender is looking for trouble, this type of deal should not be made from the position as a lender but as an investor through a non-lending entity or individually.

They allow new investors to learn from experienced ones in a structured and safe environment.One of the key benefits of such programs is the ability to participate in deals alongside more experienced investors.

As long as everyone is willing participants and they are not being coerced in any way and are willing participants I honestly don't see anything wrong with it, her body, her choice applies here. 

For material participation, would our combined time in the property need to exceed 100hrs and greater than anyone else? 

Renters pay a $35 tenant screening (which includes Income & Asset Verification and Background check) and application fee, which allows them to apply to your listing and an unlimited number of participating rentals for 30 days.

Join local meetings, attend real estate seminars and workshops, participate in online communities, and network with local real estate agents.