Aside from establishing whether a specific property is well priced, the currency, taxation, legal framework and property management areas will be the most important ones to research.

Much of it is universal, but some is U.S.A. specific - things are somewhat different in areas of finance, regulation and taxation.   

This is really just another form of taxation but what can I do legally to avoid having to participate in this ordnance?

LLCs are pass through entities and S corporations have no corporate double taxation, unlike C corps.

But from a taxation point of view there exist different types of LLC.

Marcia,If a relative is charged below market rent (second home taxation) but 2 others are non-relative renters, wouldn't it be 33% of the mortgage and taxes be deductible on Schedule A and 67% be on Schedule E?  

Given the current fiscal agreements between both countries we are subject to the maximum french taxation rate on capital gains of 40%

One really good, very knowledgeable CPA will be able to help you in all states as they will already be familiar with the tax laws in each state you are investing in, or will make themselves familiar with them before offering advice or preparing your tax return.The only time you might need a CPA in a particular state is if you are audited by the state taxation agency.  

So glad I have no color mystery to solve or no memory to tax at every turn around....I just use an atrium white Ben Moore pearl finish but they discontinued pearl so I use the closet equivalent, because it was already what my fourplex walls were when I got it!

Given all of these characteristics, declaring that a series is not technically a stand-alone legal entity may be a distinction without a difference, at least most of the time.The series LLC shares characteristics with the traditional LLC, including the benefit of informal management, an effective liability shield, and pass-through taxation; but a series LLC also has the ability to segregate and compartmentalize assets and liabilities within individual series.