Some IRS agents may still require filing Form 1065 for 2024, so be prepared to file for this year before transitioning in future years.For Question #3 on Form 8832, you are correct that it asks whether the entity has more than one owner.

@Micheal Singleton I have the perfect person you should connect with.

You can probably find info about rents on dubizzle.com, but you will have to dig some more to find the expenses.My prediction for the Dubai market is that it will continue to correct further for the foreseeable future.

Don't hesitate to reach out and we can connect! 

I’d be happy to connect and go over what I see my clients doing and what’s working, and what strategies are dead ends here. 

If the $700K sales price is not used correctly to acquire qualified real estate, the exchange could fail, triggering tax liability.Future exchanges will depend on the total value of the replacement property acquired, so entering syndications could limit flexibility.

@Alecia Loveless is correct--tenants need access 24/7 to their electric service panel, water and heat, assuming those are individual utilities for each unit. 

Hi @Brian Teeter, I would love to connect.

Also, if any mortgage brokers or lenders have expertise in working with international investors, I’d love to connect and discuss further options.Thanks in advance for your guidance and help!

If you'd like to connect more, DM me or respond here!