It seems like a pretty smart way to get one's foot in the REI door, gain some property management experiences, build equity and get solid financing.  

I have no clue as to how good it is or is not or how much it may cost.although I have been around a lot of different HOW TO guys over the years.. and like anything.. if he sells 100 people on the big dog program 10 or so will take it and run.. 10 or so will muddle the rest will just kind of fade away.you have to look within and see if you are in a position to succeed in real estate... its not as easy as just taking a course and your now going to succeed... real estate generally speaking takes time,, money and some how gain experience. so for sure those that have limited investing capital limited experience.. no real contacts in the industry.. will find it pretty tough to almost no way anything will happen other than get jacked up at the event.Assess were your at personally.. 

@Fernando CardonaThere are a couple of items to think of here.You might be considered in the business of issuing money.The pro is that the interest on the loans you borrow from will be deductible against your income.The negative is that your income might now be subject to self-employment tax.You should think of the money you earn from a post-tax perspective.if you are borrowing at 6% and lending out at 10% - you are only making 2% if you are near the 50% tax rate(fed income tax, self-employment tax and state income tax).Depending on how diversified you are - one person not paying you back can make you lose all your gains/income

You can have a separate LLC that you can sell properties to from the joint LLC if you want to do something just by yourself.You'll gain an expert and funding.

Contractors are a little more valuable but still not the most important part, it is impossible to find a contractor or a team that is going to be at your beck and call unless you are providing them full time work.

This would balance what your bringing to the table and help you gain experience.

@Michael WeisYou pay capital gains on sales the next time you file taxes.

@James Irwin, @Corby Goade really appreciate you taking time to give your valuable insight.

Specifically, if I use Form 6252, all his gain installments end up on 4797, as they normally should.

Having good rapport is valuable in business.