People tend to get wrapped-up in form over substance and over-complicate the issue of "protection."

A lot of opportunists out there who offer nothing of substance but it sure sounds great.  

However, I am wondering if this is simply "form over substance" and whether such mechanisms are defensible in court or to the IRS.

This article tells you nothing of substance that would allow you to reasonably determine if this is a problem, why its a problem, why it isn't a problem, whether it needs a solution or what the solution is.

They tend to have bad credit, poor upbringing, more drama and personal problems, substance abuse, get fired from their jobs, etc. 

Despite this risk, an investor should be able to refinance the relinquished or replacement properties and get tax free cash, as long as he establishes that the refinance had "independent economic substance."

However, the tax treatment of a transaction does not necessarily follow its legal structure, but rather is based on its substance.

It stipulates reasons for when a tenancy can be terminated or a renter evicted.Under the ordinance, a landlord can evict a tenant "for cause" if a tenant fails to pay rent within three days of receiving a written notice, violates a material term of the rental agreement or uses the dwelling unit for illegal purposes such as distributing a controlled substance or using, manufacturing or possessing weapons and ammunition.Landlords also can evict a tenant who make threats to commit a violent crime resulting in death or bodily injury, or who continue nuisance or disorderly behavior that destroys the peace, comfort or safety of the rental complex.

@James Canoy youre fishing in the wrong pond....two words for you Dr; SUBSTANCE TREATMENT.

., the Court stated:In deciding whether a rental property is used in a trade or business or is a capital asset, the Court of Appeals for the Second Circuit has examined the taxpayer's rental-related activities for continuity, regularity, and substance.