By definition, EB5 is “created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors.

What we lack is the overwhelming number of foreign investors that Metro Dade has and some of FLL has.  

You should check out your target states and see if a foreign LLC can just 'own' property without having to register or pay any state-level taxes.

If a California vacant land is just a buy and hold, no building or any business activity, and recorded and held as an out of state LLC, does it still need to be registered as a foreign entity with the state of California (ie. then have to still pay the $800/year fee)?

Hi Charline, Try Express Capital Mortgage out of Arizona, they cater to Foreign Nationals.

In this podcast is discussed how difficult it can be to underwrite for foreign investors; however if you have income being deposited monthly, as long as you can provide the financial documentation to trace the money that may help the situation.  

Get a syndication attorney to help set up the proper agreements.The foreign investor will have currency exchange rates, withholding, and entity creation to think about.Whether you want to partner with them directly or have them be a completely passive investor with no control makes a difference.Bryan Hancock would be someone on here to run your scenario by.Doing a syndicate myself makes sense because of the returns I would get but putting all that together as a commercial broker transacting a 1 million dollar deal for 30k commission is not worth my time.I am looking at putting a few of these together myself.I want the setup to be ( sponsor fee 3% going in , 20% equity slice, cash flow percentage after investors are paid, and sponsor fee / commission of 3% when it sells ).I only would take exit fee if a profit was made on the project and take cash flow only after investors are paid first and reserves were in place.

Do I still need to register as a foreign LLC in the state in which the land resides?

What is the best way to do that as a foreign investor in the US?

I have had very little experience in that area . back in the 90's I had sold 2 properties to foreigners both modest sales .