Additionally, that incorporated US entity could then go out of its way to have zero (or minimal) earnings, either by making additional principal payments on existing debt, or by purchasing additional properties.Once a "beachhead" has been established in the US, it seems wise to use the proceeds from that initial property to reinvest in the local real estate market, thereby side-stepping some of that foreign exchange frictional cost.

However, generally speaking, a Bankruptcy Trustee can declare a specific debt as non-dischargeable through bankruptcy due to "Fraud" on the part of the Debtor.

The intent is debt relief - you can apply it to car loans, credit card debt, or existing mortgages, but you will not be able to just get a personal check at closing.

Car loans, credit card debt, student loan debt or anything else? 

The mortgage debt can be discharged as a function of the plan which means the debtor no longer personally owes on the debt.  

LOLCurrently I only have 2 mortgages on investment properties, my primary is paid and I carry "no" credit card debt or other debt.I have funds for the down payment but not completely for the rehab.

If your 24 with no kids or debt, or car you can do that city at that income. 

If that's you we can provide either debt or equity to grow your business.

One possible solution is for the partnership or multi-member LLC to pay the debtor a reasonable salary or a guaranteed management payment which is exempt from creditors if the debtor is head of household.

@Dean HulsingIf 10 units have turned over in the past two years - say 5/year or 31%/yr -  your economic vacancy will be greater than 12.5% ... without even considering evictions, bad debt or concessions, you will likely be in the range of 20 - 25%.