I hate selling and LOVE moving paper (Refinance). 

I’m doing leases via Rocket Lawyer and keeping track via paper and notes!

Or is this just a theoretical way to gift an asset, but on paper it remains in the parent (grandparent/ gifter's) name?   

This was eye opening for me on the paper work side of things, at the time it was quite a bit but a wonderful lesson to learn especially being my first deal.

THEY ACTUALLY TEACH THEIR NEW AGENTS THE POWER AND ADVANTAGES OF WORKING WITH INVESTORS OF EVERY KIND, WHETHER IT'S PASSING PAPERS (ASSIGNMENTS/DOUBLE CLOSES/OR TRADITIONAL BUY, FIX AND SELL/HOLD- OWNER FINANCING AS WELL)...

On the whole TC makes my life INFINITELY easier than it used to be hand collecting rent or processing paper checks at the bank. 

Yes, formal agreements and terms are in writing but consensus doesn’t happen passing a paper back and forth saying “the seller wants X or the buyer says Y.”

although off line I have had others tell me that the notes he was pitching were very high risk low quality and he was just liquidating his positions and those that end up with the paper had poor investments.. ??

I even remember for a while that some of the big commercial tax companies didn't support local returns.Plus until last year (might've started for TY 2022, I forget) everything was paper file only.

Your comment on distribution and contribution makes sense though That term is usually used for when the loan/mortgage is under your personal name and then you transferred the deed to the LLC.But if you meant just commingling funds, that's usually a no-no but you must make it clear in allocating those funds between contribution and distribution so that you have a paper-trail of what happened to that money and this way it won't be labeled as commingling