Rhino Mocks receive argument, modify it and return?

You could use the WhenCalled method like this:

myStub
    .Stub(_ => _.Create(Arg<Invoice>.Is.Anything))
    .Return(null) // will be ignored but still the API requires it
    .WhenCalled(_ => 
    {
        var invoice = (Invoice)_.Arguments[0];
        invoice.Id = 100;
        _.ReturnValue = invoice;
    });

and then you can create your stub as such:

Invoice invoice = new Invoice { Id = 5 };
Invoice result = myStub.Create(invoice);
// at this stage result = invoice and invoice.Id = 100

I had no need to add IgnoreArguments() to avoid using Return(). This is my original method:

List<myEntity> GetDataByRange(int pageSize, int offsetRecords);

Here is my mock example:

_Repository.Stub(x => x.GetDataByRange(Arg<int>.Is.Anything, Arg<int>.Is.Anything))
           .WhenCalled(x => {
                              var mylist = entitiesList?.Skip((int)x.Arguments[1])?
                                                  .Take((int)x.Arguments[0])?.ToList();
                              x.ReturnValue = mylist;   
                            });