This might make sense, but again, you are just deferring the taxes and now pushing tax from capital gains to ordinary income. 

For several reasons (property taxes, politics), I would prefer to begin real estate investing somewhere other than locally. 

I recommend that you look at Notice of Defaults, Vacants, Tax Liens or Probate. 

Urged them to make a withdrawal and pay the tax penalty because this program, training, education will change their life.

BUT...if you're American and can still get loans in the US (the silver lining of having to still file US income taxes while living abroad), then why not use leverage?   

@William TaylorMichigan has some of the most complicated property taxes in the USA.

I’d greatly appreciate any advice, tips, or insights you could share—especially if you’ve done something similar.

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

Most on this forum can't even come up with a downpayment, you can't expect them to ride HOI/tax increases, vacanices, etc., with lower leverage and less cash flow on a property.

Since we’re in the early stages, do you have any tips on building meaningful relationships with lenders or private investors for future projects?