Becoming a landlord and leaving the US

[Gary Wolfowicz]

Hi all, I'm new to this forum and in need of some advice.

My situation is as follow: I am not a US citizen (French) and will be moving permanently outside the US (Canada) at the end of July. I own an apartment in Chicago which I would like to rent and have accumulated quite a few financial aspects (retirement, …) while living in the US for the past 6 years.

I'm looking for help/advice on the transition where I will go from tax resident to non-resident. And then some long-term advice such as: is it worth creating an LLC for this single apartment which will be my only income in the US? Are there any complications with not being a resident? Or its really not worth the trouble and I'm better off just selling ?

Thanks!

[Charles Carillo]

@Gary Wolfowicz

I have a number of foreign partners and expats that invest in US real estate but live abroad. If you are interested, DM ME and I will send you a list of the professionals (accountants, attorneys, lenders etc.) that they use. I would suggest speaking to a CPA before making any changes.