My son (age 24) however, is an independant contractor / self employed and is trying to buy a house. 

Another thing to note is that if you’re self employed with no full time W2 outside yourself and a spouse a solo 401k is exempt from UBIT on leveraged real estate.  

We are both self employed so retirement is something we have both started thinking about.

A proper vetting process - background, employment, credit, and reference checks - will weed out 99% of problem tenants. 

If you need to stay in DC for employment than I would recommend house hacking something, although I'm not sure how far 50k will take you there.

Sounds like a good situation from the employment perspective. 

I´m an out-of-country investor looking for help with my legal and tax structure.Since I´m just starting out, I need help with the basics: setting up the LLCs that we will use (looking to invest in different states), getting an ITIN, opening bank accounts, and identifying the tax strategies that we will employ for the deals we want to make.I appreciate your recommendations.

On a more enterprise scale, I employ RevMax software as well as a fractional revenue manager who looks at the prices daily on a market level and a comp set level. 

Im self employed, roughly make $130k gross anually, 1099 NEC , no debt at all, 740 credit score. 

At this stage, the main thing we need is for me to get back into the workforce and get some money coming in, in order to achieve that dream.With that in mind, my immediate goal is to gain employment in the field of property management, as opposed to wasting my time working in another field that is not associated with real estate.