It's definitely not for everyone, so don't feel like you're missing out on something.  

What you can legally do and how it will get done are two different things.

Now as far as finding a house for $200,000 is definitely possible.

I'll definitely call Airbnb, so I understand the settings better. 

LLC member (Limited partner from a legal standpoint but with management duties)Becuase of the LLC's limited partner's confusion, under the proposed regulations, subject to an exception noted below, an interest in an entity would be treated as an interest in a limited partnership under Code Sec. 469(h)(2) if:-the entity in which the interest is held is classified as a partnership for Federal income tax purposes under Reg § 301.7701-3; and-the holder of the interest does not have rights to manage the entity at all times during the entity's tax year under the law of the jurisdiction in which the entity was organized and under the governing agreement.

The time and money upfront were definitely worth it!  

I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation.

This is why we accountants should not give legal advice and - vice versa - attorneys should not give tax advice

IS this even legal? 

Given the complex nature of investments and personal finance, I want to make sure I'm making informed decisions right from the start.From what I understand, a fiduciary financial advisor is someone legally obligated to put my interests ahead of their own, which sounds reassuring.