Very close. You go through a real closing with a title company, sign real documents, and receive a deed — just like buying any other home. The main difference is that you're purchasing a one-fourth membership interest in the LLC that holds the property, rather than the property directly.
In practice, it feels familiar: you can finance the purchase, your interest is recorded with the county, and you receive title insurance. GoForth handles the LLC formation, operating agreements, and property management setup so that the legal structure is airtight but the experience for you stays simple.