Will you set it up as an LLC or an S-corp?

They explained in order to purchase under an LLC I would have to do so under a commercial loan.

We share a lot of trust and I'm confident we will be good partners but we should also be practical and consider what would happen if one of us needed to cash out, if one of us got divorced, etc.More experienced investors - do you always handle this through an LLC?

Recently I was talking with an agent who proposed the idea of me forming a single-person LLC and then using it to buy an investment property for cash. 

Ideally would be okay with lending to LLC or at least being okay with LLC holding title of property

Directed IRA setup and fee structure is a bit different than most SDIRA custodians in that they charge a fee, based on owning and "IRA/LLC" which is entirely self directed through a bank account that is owned by the IRA, for which the IRA beneficiary is typically the manager. 

We just launched our LLC in NY and we are trying to navigate whether we need to obtain a real estate license in order to manage (co-host) properties for other owners.

I'm not considering an LLC at the moment. 

I am doing this full time, not a w2 employee, am self employed with a llc set up.

Typically in a syndication, if the GP and LP are separate LLC's, then the LP will hold title to the asset.