Before I go on my rant you can have a very effective IFR trainer with a GPS only that can perform RNAV approaches, i.e., TSO-C129/145. However for Inst check ride in your RV-12 E-LSA you would need at least some ground based approach NAV, VOR / LOC, at least for the check ride. An ILS is not necessary as a RNAV LPV approach for the purposes of training or check ride is a suitable substitute for an ILS if the Mins are no higher than 300ft HAT. However there is a WORK AROUND.
I do not have VOR/LOC/GS(ILS) in my RV and file and fly IFR all the time very nicely. Most small GA airports today are RNAV only. Bigger airports with ILS have a RNAV LPV overlay. Yes ILS is lower mins overall but LPV is no slouch. If you can't get in with a LPV you probably should not have been flying that day. LPV is far better than a VOR (now a rare approach) or LOC only approach (typically in conduction with ILS which is typically at larger towered airports). As a CFII it is a challenge to even find VOR approaches, and LOC/ILS is almost short cross country to get to. RNAV LPV and LNAV all over...
Remember the IFR rating MAIN training is all about BASIC FLYING by sole reference to instruments: straight and level, level descents at precise airspeed and ROD, turns, climbs, level offs and timing. You don't need fancy equipment to do that. You only need 15 hrs of dual of the 40 hrs of simulated/actual/simulator hours for the INST rating. You don't need VOR/LOC/GS or even RNAV capability to train and practice basic flying skills, but you can not take your check ride in a plane without capability of "3 types" of approaches. ***
I started flying RV's in early 1990's, and also became a CFI-I-ME about the same time. My first Van's was an RV-4 I flew IFR (no autopilot a little busy but pitch trim is your friend and knees were wing leveler). Being in Washington state at the time, IFR capability came in handy.
I have maintained my CFI for over 30 yrs. I was most active first 4 yrs, and recently got back into doing ratings at a local flight club (one student at a time, Flt reviews, IPC, checkouts). One of my students passed his Instrument check ride.
Your thinking about your RV-12 and learning is great.
Yes you can train and get your rating in your RV-12iS, of course in VMC conditions as you say (with view limiting device and safety pilot or CFI). It is your money, do as you like. I encourage your to finish your plane and learn. Your ability to fly precisely and understanding of the NAS (National Airspace System) will expand many fold. Besides it is fun to "breakout" and see the runway in front of you.
HOWEVER consider a RNAV only approach setup, no VOR/LOC/GS.
Per Part 61 and ACS (Airman's Cert Standards) you DO need to do a LONG Cross country and file an IFR flight plan along airways, with ATC, fly Instrument approaches to each airport, for the Inst rating. Can you FILE IFR in an E-LSA to fulfill this requirement in training?
Yes. As long as it is VFR, E-LSA meets all the required equip and inspections (pitot/static/transponder) for IFR and one pilot (instructor presumably who will sign your off for check ride) must be IFR rated and current. As a CFI, I can NOT file IFR unless I am current even in VFR conditions. Check-ride can be done in an E-LSA if the DPE agrees. Not a DPE yet, but I know a local DPE who loves RV=12's. I see him giving check rides in them all the time (S-LSA's). DPE's almost always fly VFR during check rides, even for INST rating. However you will need RNAV and at least VOR/LOC capability in the plane for the check ride, or "3-types" of approaches. There is a work around however.
As an Inst instructor I like my students to get some actual IMC during training. My recent Inst student above had over 4 hours IMC, including approaches in IMC, one near approach to minimums IMC. You will not be able to do this in a LSA. However I highly recommend SIMULATOR training. Make sure you find an instructor that, one knows how to run the simulator efficiently and two, has proper lesson plan, can conduct a proper simulator training. I use to teach in fixed base and full flight motion Simulators. There is an art to making it real and meaningful, including simulating real ATC communication (with instructor playing ATC) and emergency "scenarios". Airlines call it LOFT (line orientated flight training, e.e., realistic). It is not playing a video game. You will shoot approaches down to min's in the simulator and with weather (winds, turbulence) , with possible real world scenarios. It counts towards you rating (if simulator is an approved training device). Even if you fly a plane that can fly in IMC, I recommend simulator for al those reasons. I dry lease a local flight school Red Bird LD, set up like a Cessna 172.
The challenge all new Inst Pilots is staying current. If you want to stay current you are required, within last the 6 mo do your "Six-HIT" (6 approaches, hold, intercept, track). Note legal currency is not proficiency, but this is bare min. You will need a view limiting device and a safety pilot of course (they must be a current pilot but need not have an Inst rating). They must sign your log book with their Cert # and you can only log time you are "under the hood". I hate foggle's by they way, but they are convenient. Recommend a hood. You will have to fly all approaches to Mins in VFR under hood to make them count. You can fly local approaches in VFR, no IFR flight plan and not talking to ATC. If towered airport you can negotiate with tower, but best to call ATC and get a VFR Practice Inst Approach, especially if near class B. You can call ATC in VFR conditions, ask for training approach in VFR. There is a difference in that you have no priority. This helps keep your IFR Com skills up and they do provide some traffic alerts (but your are responsible for seeing and being seen since you are VFR). Mid-air collisions between aircraft doing IFR training (where both pilot's are heads down) and VFR pilot head down, also not talking and listening on radio, is a real danger. I have heard of IFR training vs VFR traffic mid airs for 40 yrs. I do worry about it. DO NOT assume ADS-B traffic will save you. When I fly a one of our club planes without ADS-B traffic I bring my own,
Stratux and iPad. Lecture switch off.
Other ways to stay current is fly with a CFII and do an IPC every 6 mo. Most Inst pilots who fly IFR in actual IMC (Part 23 and EAB airplanes) find it a challenge to meet the 6HIT requirement in IMC. At the Airlines we get 6 mo checks, and it is possible to fly 6mo Part 121, with no more than a few minutes of IMC. I find it a challenge to stay IFR current just GA flying. .I use all 4 methods, Simulator, actual IMC, Safety pilot, and IPC with a CFII. Does Airline 121 currency count for Part 91? Yes but to be realistic IFR single pilot in an RV-7 is not like flying a large two crew airliner. I have done IPC of airline pilots in their personal plane (twins, high perf singles) and rusty is the word I would use, but with practice they come up to speed.
Bottom line, having this IFR knowledge and skill will make you a better safer VFR pilot. Filing and flying an IFR flight plan in VFR can be practical. When I lived in Washington State, would fly my RV-4 I had at the time to Los Angeles area to see friends and family there at satellite airports all around LAX. VFR with no flight plan and not being a local pilot, VFR was a challenge (no IFR GPS then, handheld Garmin GPSMAP 195). With a sectional it was doable, to fly around LA basin, getting handed off tower to tower. However filling IFR, vectored to an approach in VFR simplifies arrival, verses hunting and pecking around down low VFR, calling tower at the XYZ, still not really seeing the actual airport or runway, looking for traffic and staying out of PC airspace.
*** Some people get 60% to 90% of their training in a non / not fully IFR, or "IFR light" planes, with a safety pilot/CFI , then transition to a "Full IFR plane" for some or all of the required 15 hrs dual. HOW does that work?
Say you don't load your RV=12 up with any or full IFR navigation, may be just a IFR GPS navigator with RNAV approach capability (LNAV, LPV), no VOR/LOC/GS. You can do 25 hours of training in that "IFR Light" plane with a safety pilot or CFI. It counts. You can do all the basic "Attitude Instrument Flying", "Scan-Cross Check-Interpret-Control, i.e., climbs, descents, turns, and RNAV approaches in VFR conditions with view limiting device. It all counts. Than supplement training in a simulator and a rented plane, say a C-172, for the long cross country (requires 3 different approach types not just RNAV). Practice VOR/LOC/ILS approaches in the rental, prep for check ride in rental, and then take check ride in rented plane. Make sense?
I did something like this 35 yrs ago, pre IFR GPS RNAV approaches. I owned with a partner, a Piper Tomahawk with VOR/LOC and Marker beacons (when MB's and LOM's existed). With a safety pilot (partner in plane who who was also working on his IFR rating) we practiced and practiced, basics: climbs, descent, turns, holds, intercepts, tracking and VOR/LOC approaches in VFR (with ground NAV, no GPS). Then I flew with my instructor in a rented C-172 for the required 15 hrs of dual and check ride prep. I took my check ride in the rented C-172. If I wanted to, I could have added a Glide Slope receiver to the Tomahawk, but elected not to do that. I continued to fly the Tomahawk after getting my Inst rating. I filed IFR and flew IMC commuting 30 miles away one way, LOC approaches only. It worked great. If weather was too low I'd drive to work. Repeat: For the IFR rating it is BASIC FLYING SKILLS, straight and level, level descents are precise airspeed and ROD, turns, climbs, level offs and TIMING not NAV gear. You don't need fancy equipment to do that.
For check ride you will need to master your GPS Navigator which is a whole challenge for pilots. So I recommend you do get a
GPS175,
GNC 355, GNX275 to make your RV-12iS a good IFR trainer that will get you 90% there for a rating.
Then the plane you rent should have similar or the same GPS navigator. Flying skills are a MUST, but next is "Button-ology". You need to know how to run the menus, load routes and approaches into the GPS on the fly, quickly, proficiently without errors or whoops. This is not flying skill but programing skill. Depending on your technological prowess this can frustrate students and experienced pilots alike (me included).
Note 1 or 2 COMS: You do NOT need two COMS, but it makes life easier. Example you are IFR, IMC, initial arrival within ATIS/ASOS range of airport. You must get the weather and know what approach is being used, but you are on Freq with ATC, being vectored to the airport. YOU MUST always have a listening watch on the COM with ATC.. Mandatory. You need to listen to ATIS during arrival phase of flight, to set up for approach. Some COMS have a listen to standby mode while staying on primary (can hear and transmit on primary). If primary com is received it blocks the standby Freq listening mode. This makes one radio practical. How do you handle one COM IFR with no standby listen feature? Make ATC Request, to go off Freq briefly to get ATIS? That is approved. You leave Freq, get ATIS, check back in. I do it all the time in a one COM radio IFR trainer (two G5's one GNS430W). My RV-7, GPS175 Navigator (RNAV only no VOR/LOC/GS). The COM one ICOM A220 with standby listen mode. Flight Inst, GRT Horizon 10.1 and one G5. IFR light but really very capable with dual axis autopilot. I don't go looking for the lowest most severe wx to fly in. Credit card and hotel is fine as needed.
BTW you could build your RV-12iS as an EAB and fly IFR in IMC. That has pros and cons. Now with MOSAIC this is more of an option. Your RV-12 EAB could still be flown by Sport Pilots but also could now go IFR (for a PVT pilot with INST Rating). The other part is maintenance. Pilot owners who by a E-LSA or EAB can take the "Inspector LSA" course (two days I think), buy a E-LSA or EAB they did not build, do condition inspections on that plane, even if they did not build the plane (i.e., repairman's certificate). Sport pilots can now fly a C-182. It is all grand. Sport Pilot, LSA and EAB limits and definition have changed, with no LSA weight limits anymore, just stall in clean configuration, which has was raised significantly. Thus a Sport Pilot can fly many EAB and Part 23 planes.