@Nathan Becker one thing to consider specifically in TN is the F and E tax as it relates to LLCs.

If you rent out your current home and don't sell within 3 years, you lose the homeowner exemption on capital gains tax.

Alaska has no personal income tax as well.

Rolling the insurance premiums into the mortgage and amortizing over 25 years, your mortgage payment would be just under $400/mth {though I would recommend paying bi-weekly}.Let's look at the operating numbers:Scheduled rent:                       $750/mth       $9000/yrVacancy allowance (10%):     $75/mth         $900/yrGross revenue:                        $675/mth       $8100/yrOperating Expenses:Property taxes:                        $100/mth         $1200/yrInsurance:                               $90/mth         $1080/yrWater & sewer:                         $93/mth          $1120/yrMaintenance (10%):                  $68/mth          $810/yrProperty Management (10%):   $68/mth           $810/yr       Total:                                 $419/mth          $5020/yrNOI:                                           $256/mth         $3080/yrDebt service:                              $372/mth        $4464/yrCFBT:                                         ($116)/mth      ($1384)/yrYes some of my allowances may be conservative and I upped the property tax a little from what you mentioned in your post.  

The exact dollar amount will depend on how much depreciation you took and your CPA will need to plug those numbers in and give you that final tax dollar amount.So if you decide to sell, you need to sell before summer of 2015 to escape the 15% capital gains tax!

I need to know what structure and what business model a foreigner has to adopt to be accepted by the IRS for purposes of paying similar tax as residents on rental income and property flipping.I would like to thank you for your time for having read my request!

You may be subject to self employment tax as well. 

One thing I think I see missing is the 3.4% tax added to fund the Affordable care act that is separate from fed capital gains and whatever state cap gains tax which isn't an issue in Fl but could be as high as 10%.On the other side of things - if you're talking about flipping activity you're talking ordinary income tax but also self employement tax as well - another 15%.So 50% might be an extreme worst case scenario but apart from other tax saving strategies the sting can still feel that bad.Takeaway - strategize and pay only what you have to legally.

., Good advise on Turbo Tax as well as run it by a REI knowledgeable CPA in consultation.The CPA visit should be planned late in the first year or definitely well before April 15!

Since it's a single member LLC it's default to tax as "Disregarded Entity" like a Sole Proprietorship entity(pass-throught income?).