You can - 1) establish a trust for asset protection, 2) utilize the Homestead Exemption for property protection, 3) consider tenancy by the entirety for marital property (this might just be applicable to California, my home state)4) make sure you have adequate liability insurance for additional protection, 5) think about forming a business entity to shield assets, 6) and have proper estate planning for asset distribution.Seek tax and legal advice from experts in your state.

You make this election when filing your federal income tax return.

Make a buy at a Nebraska Tax auction on just the taxes.4.  

Because high rental yields, tax free income, and stable market. what do I have to learn first to start investing on Dubai's rental properties? 

I do see pre-foreclosures, pre-probates, and tax delinquencies.

When I die, they can keep renting out the properties or move into the SFH, or take the step up basis and sell it with not as high of a capital gains tax hit (I hope they wouldn't choose the 3rd option).

@Loren SouersI'm going to lead with the suggestion that you consult a tax professional and an attorney.Generally speaking, you can put a rental property in a revocable living trust, which can help with estate planning and asset protection.

So if Texas has no state income tax I dont think you pay tax on any loans in other states.

That might create some tax issue/book keeping complication.If @Brandon Hall is around, he may be able to clarify if this transferring of funds is a nonissue or a big deal.

I do have preferences ie close to beach/lake, no state tax (limited but if possible). 2.