It becomes hard to prove to the IRS what is inventory and what isn't.If there is more than one shareholder of an LLC it is taxed as a partnership UNLESS you are in a community property state.You need to understand that an LLC DOES NOT EXIST as far as the IRS is concerned: http://www.biggerpockets.com/forums/12/topics/76052-simple-taxation-questionsYou can flip in a C-corp or s-corp and then distribute the income or even loan from there.Personal Holding Company Tax (PHC Tax) is a 20% tax on a corporation that holds passive based income that GROSSES more than 60% of the income.C-corps have NO CAPITAL GAIN RATES.Here is a thread on Real Estate in a C-corp and trying to get it out: http://www.biggerpockets.com/forums/51/topics/1057...

If after you read that, you realize you don't have to worry about estate tax, have your Dad start an LLC, have the kids be a minor shareholder, have the LLC get a loan, over the next 3 years make sure the kids learn how to run the building.It is far more important to make sure your father has a will, there is an executor of the will and that they know where all his accounts are.Also the reasoning of "Dad has some cash but not really enough to give to us as a worthwhile inheritance" sounds really shallow.

In general I feel that the banks don't want to know how much their assets are worth because then they would have to report it to shareholders.

I would suggest just domesticating here the benefits to a Delaware company are negligible unless you envision getting big enough for shareholder lawsuits or other public company legal woes.

The answers are correct.You DO NOT need a license to manage properties you own, or are a shareholder in.You do need a license if you take a fee for managing anyone else's property.Good luck!

Some items like financing as a non-resident, setting up a company as a foreign director / shareholder seems more friendly in the UK than the US.

Because there is little to no regulation overseeing intermediaries, but as publicly traded company First American is held to higher standards, such as financial reporting and shareholder obligations.

Partnerships and S Corporations have distributions.LLC's have members, corporations have shareholders, partnerships have partners. 

So any advise on how do my wife and I restructure our business where I'm still part of the business but not a member/shareholder that has to take a "reasonable salary", short of making my wife the sole and 100% owner.  

CASH or 50% DOWN is the usual expectations of foreigners with little/no credit in the USA, as an individual or shareholder. some credit references will STILL be required for underwriting, as for a loan there must be some level of creditworthiness established in absence of FICO scores.check into Bank of the Internet and other lenders that lend to foreign nationals.