@lnxw48a1 The legal dance of the veils tax-wise for getting such a group together is discussed here: https://www.irs.gov/publications/p550#en_US_2017_publink100010158
I have no objection to what you propose. Just don't set up the "investment club" anywhere near the tentacles of the CA Franchise Tax Board. Nevada would likely be safer since they don't have state income taxes and is reasonably sane.
"I appreciate SDF but it's a general-purpose server and the name doesn't make it obvious that it's about art." - Eugen Rochko