I need someone who is well versed in business taxes as they pertain to multiple LLCs and real estate, as well as a good working knowledge of how to set up and operate a self-directed IRA for investment purposes.

But for anyone reading, especially new people, I think it would be wise to educate themselves on the subject as it pertains to their state. 

You need to be aware of Fair Housing laws and how they pertain to you in this business.

Take everything with a grain of salt though and verify how our advice pertains to your state laws.

As it pertains to the average investor of these types of properties in declining areas, as @Jay Hinrichs mentioned, what would you all expect to happen to them?

I don't think the original question pertains to them. 

We require this structure because, as it sounds like you know, every country has different rules that pertain to how an American can purchase real estate.  

Do some research and see if actual NY landlord/tenant law pertains to your situation.Now you know why we do not rent to family and friends. 

This pertains to Eastern North Carolina, I have a property that is NOT in a flood zone but I have considered getting flood insurance due to the severe weather here in the Summer months and heavy rain, however, the lowest insurance I can get will cover $20K property with about $33/month for the insurance, which will eat into my cash flow, I don't know if it's worth it or not.

There’s a bill pertaining to so called Jr.