According to @Jay Hinrichs, the back yard might be a separate S corporation as developer for ordinary taxable gains and the front part a 1031 exchange for capital gains. 

Well I just got out of college and started my corporate career so that’s why I don’t have the cash on hand yet.

Consider exploring HELOC options from national banks or online lenders that operate across multiple states.

Purchase price: $212,000 Cash invested: $25,000 3 bed 2.5 bath townhouse 1 mile from Augusta National (Masters Golf Tournament).

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).

Trace the filings of the corporation you discovered— might give you some clues.  

However, real estate values (on a national average) have never gone down over a 10-year period. https://fred.stlouisfed.org/series/MSPUSHere is what I do:I live in San Diego, a high-appreciating market with a lot going for it economically and very little cash flow.

(Corporations had huge problems with this in 2008.)

I complemented it looking for more documents at the IRS site with Lance’s words and it was extremely helpful.Indeed, a multimember LLC can select how to be taxed sending a form to the IRS and, If taxed as a partnership or corporation, not be subject to FIRPTA because it is not a flow through entity (for this tax withholding purpose ) anymore.Anyway, I want to have a meeting with a real estate experienced CPA in the DFW area in order to clarify any details and establish an LLC with everything covered.

Will it work or are there better ways to make property investments as a non-US resident/national?