My next goal would be to invest in out of state short term rentals and add those to the portfolio, but not sure how that would impact my LLC if I create a Wyoming Trust/Holding Company/LLCs and foreign file for incorporation into Connecticut to complete the first deal for the duplex, but then what happens when I want to invest in out of state investments deals/opportunities/homes? 

I registered in Wyoming as many do but just ran across information saying that in order to “conduct business” in NY in having LLC owned rental property, I must now register as a foreign LLC with NY.   

Risks that come with purchasing in a foreign country?

Take a look at BAC, Scotiabank, Prival or public banks such as BCR or Banco Nacional (they have a bad reputation of being slower than private banks with foreigners).

.• No reporting company will have more than two company applicants.Company Applicant Category 1: Direct filerThis is the individual who directly filed the document that created a domestic reporting company,or the individual who directly filed the document that first registered a foreign reporting company.

I do think there's a good amount of speculating or institutional/foreign investors chasing yield.

Condos are pretty straight forward, but as a foreigner you are not allowed to own the land.  

While I'm eager to dive into this opportunity, I'm seeking insights on whether this market is the right fit for a foreign investor like myself. 

There was recently a new law enacted where a buyer has to sign an affadavit to verify that he or she is in compliance with state laws on foreign ownership of property.

Hey Sonia, DSCR loans for Foreign Nationals do exist.