You can have both asset protection and separation but you will have to have either one California LLC or one foreign entity registration in California depending on where your investments are located. 

What does a "foreigner" need to be aware of when attempting to profitably manage STRs outside the U.S.?

Do you have foreign investors already lined up? 

@Pierre Luc leblondForeign investors have to be mindful of ECI(Effectively Connected Income), FDAP(Fixed, Determinable, Annual, Periodic) and FIRPTA.There are also instances when foreign investors need to apply for an EIN and file a US tax return.You may also want to understand the tax treaty between the US and the country you are from.You should understand the above implications before investing in the US.

I'm currently a service member deployed several months out of the year in a foreign country and often times I've found it daunting to figure out something that'll work being that I'm away from the states and don't have connections (yet) to collaborate with.

Being billingual is a big plus tooAmerica is a bit different since everyone has a different ethnic background and foreigners are as common as the air we breathe.

I want to focus on foreign investors being that I am Brazilian and know the Orlando market attracts a lot of foreigners.

If you purchase the property in the name of your entity which is formed in CA, then you will first need to register that entity as a foreign entity in NY before it can do business there.

We work with a number of foreign investors and can introduce you to a lender that works with foreign investors for residential and commercial properties.

You should speak with a professional.Adding foreign investors into the mix can and often does add significant compliance overhead.US estate tax planning as well as income tax planning needs to be considered for the foreign individual.