Partnership with foreign national - tax issues

[Account Closed]

Hi all, Thank you for reading my post. I'm considering forming a REI company with a good friend who is a foreign national. I know a foreign national can be part of an LLC, but I don't have a clear picture of what the tax implications are for different types of entities. The goal is to use some capital to fix and flip and also buy and hold properties for longer terms. Thank you in advance and I would also appreciate referrals to experienced RE tax attorneys or accountants that can help with those questions. Thank you! BP

[Fulton Sanchez]

@Account Closed how are you? Your partner needs to:

1) Get a tax ID with the IRS. 

2) File personal a tax return

3)  File form 5472 under new IRS regulation