These are not available in my state, so I have not looked at them in depth, just read an overview for them in Texas.

No legal advice given here and this is just the 30,000 foot overview, a lot more details involved in each of these scenarios.

Can someone give me a quick overview of options and if this is a horrible or decent or great option?

If you checkout podcast #109 here on BiggerPockets it gives a good high level overview of that structure. 

In less that a week, I’ve been on Zoom calls, connected with potential realtors, talked in depth about comprehensive planning, zoning ordinances and the future of office & retail.

From my comprehension, in Wisconsin you ARE a real estate broker if you display the pattern of sales or exchanges (the five sales or exchanges in one year or 10 sales or exchanges in 5 years).

Like how stock investors use progressive reports, some number crunching and a bit of luck for their stock portfolios to make a comprehensive outlook on certain stock options, sports investing uses a similar system to make a comprehensive outlook on certain sports picks. 

@Mike Roy this is such a comprehensive response, thank you Mike.

Detailed Overview: 1.

To overview, we're incredibly stable with low cost of living and low unemployment.