What do you file for this "income overseas," do you file SChedule C self employed on your personal 1040 tax returns ?

And get those incredibly good returns?

But there won't be any return for 10+ years. 

I’m all for value-add and if you need to pull cash out to get another deal that makes a higher return then how much you pay for it, sure, but I think you would be better off selling it and starting over.

Quote from @Kevin Akers: Quote from @Brittany Minocchi: Can you qualify full doc (meaning with employment history, income, DTI, tax returns)?

However, it increases costs and administrative work, like filing fees and bookkeeping.Tax-wise, LLCs are pass-through entities or disregarded entities, so profits and losses flow to your personal return, but managing multiple LLCs complicates filings.

There's some connection you have to this person with money who is looking to invest it short term and collect an x% return. 

Without this, it’s tough to calculate a realistic cash-on-cash return or DSCR (Debt Service Coverage Ratio).Condition of the Property: Are there any deferred maintenance or capital expenditures needed in the short term?

The Norada Capital promissory notes do offer a high rate of return (interest), but I would not classify them as "high risk" because of the higher interest rates.To correct your comment, they ARE backed by hard assets and collateral.

There are no tax deductions for such gifts, however you have a $15k per recipient annual gift limit that avoids the chore of filing a gift tax return.