During my initial stages of research and due diligence on purchasing my first RRE investment property, I've heard both arguments for and against using a LLC as the form of business out of which I should operate the property.The knowledge I have regarding the LLC as a legal entity separate from its owner is purely academic.

Luckily I was able to catch a couple on pure accident.

That looks like your problem - only 3% down (can you get that conventionally if its a pure rental property - i'm not 100% but I don't think so) - with that leverage (97% LTV), pretty much nothing is going to pencil.

For instance you can set up a fund that invests in real estate via syndications that offer tax benefits to investors where REIT produce purely ordinary income.

For a pure cash flow investor that doesn't care about appreciation it might make sense.

It also cracks me up that Flint is on this list but not Detroit.Maybe they're filtering purely by numbers with no regard to the quality of the city/area?

I've shown them the returns, and their fear is so great, they are turning down 25% cash on cash returns from pure fear and mistrust, and these are my friends.  95% of the people you meet will talk all day long, read books, and make plans, plans, plans, and never invest in real estate. 

Running #'s just looking at properties in and out of state (I live in Las Vegas), I do not really understand how pure cash flow (even a small amount) is possible given these current loan interest rates unless you find the deal of the century. 

Is it purely interest?

That’s a pure cash flow play - monthly interest payments hitting your bank account is a great feeling!