From the day we take title you then have 180 days to sell the properties you want to exchange into this new property.Reverse exchanges can be a great way to lock up your new asset first and mitigate some of the risk associated with trying to get someone to give you a contract contingent on several sales. 

@Douglas Spence all insurance companies, that I know of, in Florida, require a wind mitigation inspection.

But you will mitigate it and of course it will stay deferred as long as you own it.One big question would be, "Where do you want to retire". 

Hi,As I understand, the inheritance tax that a foreigner has to pay to inherit a property from another foreigner is 40% from the excess in the market value of $60k of the inherited rental property located in the US.To mitigate this low exemption compared to US citizens, I am thinking of establishing a general partnership.

Have you identified, or tried to identify, all the possible risks in this venture, and how you mitigate those risks?

If something significant turns up that would be a deal breaker for you and the risk couldn't be mitigated by a higher security deposit, then move on to #2. #2 seems to be a higher risk due to lack of rental history, less stable work, and less income.

And just learning about what mitigates the risks on a particular strategy.

Know where your business model is exposed and make plans to mitigate that risk if something should happen. 

As with any REI you need to evaluate the individual investment or fund for what the risk points are and what are the mitigating factors for the risk. 

In reality everything else is going up and you are looking at doing your best to mitigate it.Good Luck in whatever you decide.