(I already do that with a phone call or email) A million just to get the IPO ball rolling won't happen - I guess the small time investor doesn't really participate legally in these types of ventures.

That option lets the owner keep more revenue, but  also requires them  to participate more hand on.

Has anyone participated in Hunter Thompson's Cash Flow Connections Mentorship Program?

You may wish to confirm that the new 401k provider will handle the ongoing compliance support such as any required 5500 filing (e.g. 5500-ez for a one-participant plan with assets in excess of $250,000), any required tax reporting (e.g. 1099-r in the event of a distribution or in-plan Roth conversion), mandatory plan updates and amendments, etc.4.

You can take participant loans from the plan, you don't need the additional expense and administration of an LLC to have checkbook control, and there is a built in-Roth component.

It would still be Passive unless you are a real estate professional and meet the other requirements such as material participation rules. 

The tax benefits of material participation for STRs (with a W2 job) are very enticing.

That comes with its own set of rules.If they will be active participants then you don’t have to register the offering.

It is not clear why the mentioned agent did not participate in the entire commission for the sale of the property.  

If you truly want to invest in real estate and participate yourself you can pretty much forget anonymity.