Letting use property for free, depreciation

[Giedrius C.]

Hi, 

I'm a new resident of the USA and California and have a couple of questions regarding overseas portfolio and US taxes. I understand it's not an everyday situation I have but maybe someone is familiar with the issues. 

1. What would be the US tax implications if I let my mother in law use my overseas portfolio of properties for free (she can rent it out and collect rent for herself, use properties for her own needs or do what she want's with it)? There's the standard procedure to do that with no tax implications for me in that country, but I'm now US resident and I don't know if I need to report anything to the IRS on my tax return and couldn't find anything on google about it. And how would those properties be treated if I decided to sell them? 

2. How should I calculate depreciation of overseas rental property if I purchased it and started renting it out long before I became the US resident? Do I understand correctly that I should start depreciating the property from the day I entered the USA and not from the day I purchased it? 

Thank you very much for any help!