Forming an LLC with foreign partners and capital in Florida

[Fran OBrien]

I will be bringing in capital from outside the US and will be using this money to form an LLC in Florida to buy, flip and rent/sell the properties. The LLC will be setup under 3 partners (1 US citizen, and 2 foreign investors). I am wondering what will be the tax implications on the money coming in? Also I am writing so see if anyone has gone through this process or one similar and can offer any insight or tips. From reading I understand that the foreign partners will need an ITIN. Can anyone elaborate on the taxes/situation for foreign partners and/or add any suggestions, help for the process it would be greatly appreciated.