Most likely your conclusion is correct, but the only way to confirm it is by having a real estate accountant review your tax situation.Also, please read this introduction if you want to better understand the concept:https://www.biggerpockets.com/forums/51/topics/1075919-five-...

You will also need to have a US Bank account.  

Bought a triplex in 2011 with all cash in my retirement account.

I agree, with turning the property over you have to make it ready, account for vacancy and go through the courts for an eviction, all of which will cost you.

I’m still working toward my first deal too, but I’ve been learning that tracking maintenance and expenses is all about staying organized from the start. 

The ultimate answer is no (and I'm not a tax accountant).

These guys are having fun because there are a lot of scammers and gurus out there selling LLC creation services and Wyoming Trusts and Cook Islands Trusts and if you believe all that b.s. you will end up needing to cash out refinance soon in order to access that equity in order to pay for all their services plus an accountant to keep track of the mess.

They can help you organize your finances and create a sound investment plan.Key Questions to Answer: What are your long-term financial goals?

My motto, "Honesty, Integrity, and Accountability," has always been my guiding principle—not just in business, but in my personal life as well.

Hey BiggerPockets Community,I’m working with an organization that’s aiming to address affordable housing in a way that leverages time as a primary tool.