No they're LLCs to protect the owners from personal liability claims. LLCs are registered with the state and have to disclose their directors. Complicated ownership structures just cost a lot of money to maintain, usually for no reason.

it can be. in my case I'm almost always listed as the manager so nothing is hidden, but you need to realize there are scumbags (plaintiffs and attorneys) out there opposite the developer that blackmail and shakedown the developers. your jaw would drop if you knew of some of the shakedowns I've paid out and that I know other developers have. for no reason other than because they know being litigious will harm the developer and they can benefit financially from being a thorn. the system is broken I agree but if you were a developer you'd understand the need for various LLCs. a good developer will take care of all reasonable complaints and a typical developer does this for a lifestyle so it's not conducive to build a bad reputation by screwing over buyers or rental tenants. especially these days with social media