Direct Control: Managing the project yourself gives you direct control over every aspect, from selecting materials to scheduling subcontractors, ensuring that your vision is accurately 3.Learning Experience: Taking on the role of a GC can be a valuable learning experience, providing insight into the construction process and improving your skills for future projects.4.

Even if they just have them on as an advisory role, having them on the LLC helps you get a better deal on funding and their experience will help you to get the project completed more quickly. 

It memorializes the rules, rights, responsibilities and structures, the roles and framework of the business, your agreements and roles of your partners, and most importantly maintains your limited liability in the event of a lawsuit.

We've done 13 syndications and just pivoted to a fund model..so talking from experience.

In your shoes, it might be simpler to stay focused on grad school and use your cash to lend to other investors or take an LP role. 

They both have their very important roles in the deal:1 - The cash flow's responsibility is to recover the REI cost, that is recover the cash they put into the deal. 

Watch some YouTube videos and role play with someone on the common objections (price, how assignment works, etc).

Location plays a major role in decision making.

But if you are trying to teach yourself pivot tables instead of hunting for deals or managing the properties, then these are a detriment.The thing with any analyses you perform, they are ultimately done for the benefit of the people viewing them.  

Or like @Bill Hampton said, explore Delaware Statutory Trusts or NNN commercial properties if you want to move into a more passive role.