Re: Tobi (Official Breakdown):All Tobi theories go here:-
My theory is that Tobi is Madara's younger brother Izuna.
first of all, when tobi was telling his story to sasuke, he squeezed his arm when saying that the younger son offerred his eyes. i'm guessing madara stole them from izuna by force, which led to resentment later on,bear with me.
now, if madara had taken izuna's ms and implanted them into himself to awaken ems, then proceeded to get the rinnegan, izuna can indeed consider those rinnegan as his.
madara knows nagato somehow, and it's confirmed he survived hashirama. so i think upon the brink of death, he awakened his rinnegan. now, madara, who had stolen hashirama's dna, was weak at the time, but around 70 years by my calculations, 30 or so years before the start of the series when nagato was a kid (ie hiruzen was 40, jiraiya and the sannin were 20 etc etc,slightly before the second world war). Madara, had already formulated his project tsuki no me, but being close to death, had no way of achieving it.
so, he used his last days to revive izuna, and give him his task, to implant his rinnegan into nagato, an uzumaki able to wield the rinnegan well due to his insane chakra levels, when the time was right. he also gave him licence to start collecting the bijuu.
so izuna, who was revived at his early 20s/30 i guess, did the first part of the plan. along the way, he used madara's stolen hashirama dna to create white zetsu, or maybe madara had done it beforehand, i don't know, it's still unclear. but izuna molded his body from that substance to improve his longevity, he's at least 60 years old now so he wants to improve that. maybe madara was unable to perform the rebirth technique correctly due to the big period between izuna's death and revival, so izuna was revived but not at his prime, i'm not sure.
now, izuna' intentions. i'm not sure that he ever planned to revive madara to begin with. he wanted to use nagato's creation rebirth for HIS benefit. imo this can be interpreted in two ways. no1. he is close to death and wants to be reborn at his prime, as he's a shell of his former self. in fact he might have a borrowed body, with no ms at all etc etc, only stolen sharingan. no2. he wanted to revive madara. but, this is clear, after nagato's death tobi decided to step up the plan. meaning he abandoned the notion of reviving madara, at least until sasuke could awaken his own rinnegan. instead he focused on completing the project tsuki no me first, and then make himself complete later on.
as to why tobi hid behind madara's name, it' becaue madara is an ideal, and brings much more fear than his forgotten brother or any other name tobi could wield. kabuto's revelation of the real madara shocked tobi because he doesn't think he's at his brother's level, and also because kabuto could scupper his plans of drawing out the shinobi nations, and the jinchuuriki, into a war. so after that he went to retrieve nagato's rinnegan and made kabuto's jinchuuriki his own, so that he could beat madara if kabuto betrayed him.