My focus is mostly on land banking, a convenience store, and, more recently, providing judicial services for a select handful of foreign investors.

Set up asset protection that is cost and operationally appropriate for your net worth and in ALMOST all cases AVOID the exotic plans that require a foreign asset protection trust domiciled in Nevis, administered by a Netherlands corporate   entity located in Luxembourg, with documentation kept by an attorney in the Bahamas.   

And how hungry did someone have to be to say 'mm, that 8 legged sea creature with the snappy legs looks delicious'.

I’ve read a number of posts online saying mortgages are possible as a US citizen in Panama.However, I visited some realtors in Bocas Del Toro and they said mortgages aren’t possible there or for foreigners. 

I'd just register your WY LLC as a foreign entity in FL. 

I would also say that markets like Manhattan are not super representative of most markets in the US - a lot of foreign investment I'd imagine in NYC, Miami etc - I'd guess a lot of these cash purchases are more about exchanging unstable or risky foreign assets/currencies for perceived stability/safety of US top metro residential real estateI think in a lot of other markets where this isn't relevant - I think most are cash offers being "king" as not having appraisal or other contingencies that might sabotage the sale after 30 days or so and make people re-list (sellers will take less to avoid this risk and downside)

Forming the LLC in the state where the property is located might be more straightforward, avoiding the need to register as a foreign LLC in that state.2.

So, if you create an LLC in another state, you will likely need to register it as a foreign LLC in California.

In the DC area we deal with a lot of foreign nationals that work at the embassies and consulates.

One LLC is simpler, but separate LLCs can isolate risks.Different States: She can hold properties in Nevada and Washington under the same LLC, but might need to register as a foreign entity in one of the states.Renting to Family: She can buy a commercial property and rent it to your business or rent a residential property to you and your sister, as long as it's at fair market value.