I don't know the law precisely but "guaranteeing" a 10% return on this kind of equity investment strikes me that it is a "security".

@Rod JosephIf there’s direct ownership of a non-US property held as a rental by a US person, the answer is yes it needs to be reported.This isn’t precisely on point but gives a general idea of how other governments may find out information certain taxpayers in other countries: https://www.taxconnections.com/taxblog/how-the-irs-shares-taxpayer-info-with-other-governments/

@Sam Joshthat is precisely the reason why I think buyers in the past 3 months is already in a loss position already.

But with that being said, of the thousands of people I've crossed paths with, I could count on one hand the ones who have become a "mentor" of mine.Anytime you meet somebody much older than you, who has accomplished the precise things that you would like to accomplish, and who you genuinely get along with, that could be a potential mentor.I wouldn't get too hung up on landing a mentor right here, right now. 

You can get more precise, such as "single mamily real estate investment companies" or "apartment real estate investment companies", etc, and you can get closer to what you may be specifically looking for.

I know it's common parlance in the world of investing to say, "put your assets in an LLC", but, you want to know precisely why you'd do it.

Doing a BRRRR requires being precise on your ARV so that you can pull our money out.

Construction schedules, GC or appraiser estimates, land values, its not the most precise.

That's precisely what I'm questionning here.

But not 2-4 unit properties with an ADU, and not on a SFR with multiple ADUs (that's how I know that precisely zero MLOs were involved in the drafting of that landmark California legislation pertaining to ADUs).That guideline could change in 2 or 5 or 15 years, but that's speculation.