German Citizen, O-1 Visa, sarting out - seeking advice
Good day! I’m a German citizen and consider residing in California. I’m not an American citizen but I might get an O1 Visa, which allows passive income.
I currently own property in Germany that I consider selling and investing some of the of the money in US real estate market.
Say I want to buy an apartment which is worth 200K. I bring 100K in cash and take a mortgage in the US for the rest (will be difficult as a foreigner but possible), rent the apartment out (long term) and using that money to pay for the mortgage that I took, and all expenses (tax, management etc.). Is this scenario possible in the US? Are there areas where it's possible to buy property in a low price and rent it in a price that covers the expenses and even bring in some earning?
If say I manage to do this, and even have any leftover income - how will these leftovers be managed? Wired to my German account? Stay in a US bank account?
How will they be taxed?
And lets say, this very scenario, if I want to do this scenario a couple of times. Say instead of one property, do it on 3 properties, on each apartment I bring 100K, and take a loan of the rest of the money. Can I take multiple mortgages?
Can I do that as a foreigner?
Can I do that without a fixed income, if my plan is to have my income from the leftovers of the apartments?
What about living in one US state and owning/letting in a different US state?
And on O-1 Visa?
I know these are lots of questions, but it's a start. I'd appreciate every feedback. I'll be also glad to speak to someone going more into details regarding investing/visa/taxes ect. But I don't know where to start! Can you make a suggestion for a company/entity/person that you trust who will understand these things, with whom I can consult (and pay for consultation, obviously). There are so many crooks and bullsXitters out there!
Thank you,
O