For 'suspended passive activity loss', is this the same as "unallowed loss' on my federal tax return?

Will cost you time and effort to create and maintain the LLC and then you have to have a separate tax return prepared for it.  

However, every bank is turning me away since I am self employed and my last two years of tax returns don't show for much because I was in college.I only need 60-65% LTV on the property to pay off this high personal loan and be able to cash flow.With the 5 year, 18%  personal loan, I am cash flowing NEGATIVE $22/mo.

That is one of the advantages of owning property outright - yes, the return might suck, but I have homes that will cash flow, accounting for maintenance, insurance, taxes & capital expenses, at $300 per month.

If someone is wanting to do the 10k or 25k stuff I am not interested in it as a sponsor.I look at headache, equity return, and time with the relationship.

You should be able to easily reach a 10% return.

In return I’d love to be able help out if help is ever needed, for example renovating a house (TLC) type of work or anything you could think of.

And if these property looks like it's going to be able to get you the return you want, then I'd say it's worth it.

Commerical properties value add can have much higher returns when done properly. 

Commercial brokers will not return your calls.Partner up with someone more experienced and provide value to him/her.