Foreign investors, LLC, set-up

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I'm in Japan, where I've gathered a group of Japanese investors interested in US real estate. My pitch has been to buy REOs or other distressed properties cheaply for cash and hold them as rentals until prices rise again, refinancing along the way for further purchases.

It seems an LLC is the best business structure? Possibly with further LLCs to hold properties? I've read plenty about this but wonder if the foreign investor part complicates things.

I've had good reactions to the idea of a four year expansion period, with no payouts to investors and then take stock at the end of four years. Profits would be split 50/50 at the point where it seemed sensible to take money out of the company. The goal would be to create a company which paid a solid income to the investors and to me long term. Is 50/50 generally condidered acceptable or am I being greedy? How about drawing a salary during the early period, any opinions?

I'd be grateful for any insights or advice both about the real estate side or the international investor and business structure side.

Thanks

Jan Watson