I want to use this opportunity to jump into real estate investing, wifey would need to be talked into it as she does not like to take risks.

@Andrew Pappas  i don't know how good is the deal for you to take the risk of not having the inspections done BUT for me - it borderline walking away from a nutter!.

They only offer a Quit Claim Deed, seems like a big risk, no clear title. 

Its all about your appetite for risk and your goals. 

Would this allow me maintain all financial decisions regarding the asset, without risk of getting sued or removed from the entity?

The thinking is wealthier clients tend to be more experienced with a variety of investments and have investment "savvy", can understand risk and absorb losses easier and can understand these complex investments better.  

I'm able to push things to 1.7-2.0mil with some additional personal risk, does that clear up the waters a little, or is it "chump change" at this point and not worth the risk? 

A simple one is to help protect your assets from the risk of lawsuit.

Account Closed Guess it's the risk people take.

There are many other ways to invest your money without putting your entire IRA at risk, it's not worth it.