This house in its present state is at least 700k in my home town austin, but I an afraid to speculate in a foreign market to me like ogden.

Did we learn anything, yes but alot of half-truths too.Came home and created a Nevada S-Corp and put an LLC under it, assuming we would go national.Property bought was in Calif, so more expense to Foreign File both entities.Started looking into creating my own Property Mgmt (PM) business to control out-of-state holdings.Then I learned:PM requires a broker's license or to be under his control almost everywhereThat stopped National expansionwhich then made the S-Corp and LLC unnecessary (to me; I accepted personal risk)Did get good liability insurance and suggest an extra Umbrella policy if you're going to buy&hold (aka become a landlord).

Regardless where it's created, you must Foreign File in every state where you "operate with Nexis" and that will drive expenses up.

I have been visiting family most every year and now that I've retired I have been residing in both countries during the year I sold my ranch in Oz in 2010 and bought my first sfr in the central valley in 2012 cash during the next couple of years I tried to by others but could not get finance,as it turns out for various reasons i.e. no credit score for lack of history for the years I was away, foreign assets and income is not acceptable here in the U.S.  

Forgive me if I use incorrect terminology; I'm still a newb and a foreigner at that! 

@Alex Sanfilippo, a friend of mine specializes in providing executive housing for foreign employees who are here for 2-3 years on a H1B visa. 

@Matt Schelberg  just functional, physical and social obsolences at work in the market place.. its so foreign to us out here..

But if you are looking to build wealth through a rental portfolio, you'll get better results in markets outside CA.I work mostly with foreign investors who want to invest in the DFW market, sourcing off-market properties, rehabbing them and then property managing them.

Turnkey investments to a foreign national who I'm assuming had no idea of the property or that location.

I am diversified in domestic/foreign stocks, bonds, REITs, small businesses, and real estate.