So he bought it in blighted condition, they assessed his sales price at the blighted rate, he held it about 150 days I think, so he got hit with a $16,000 off the top real estate tax at closing.

Structures I have been looking at include LLC and LLP, however each have their own tax and liability implications to a non-US resident.I understand that both structures provide a flow-through taxation, avoiding the double taxation of a C-Corp.

It's crazy complex, and unless your bookkeeper understands how real estate taxation works, there is NO WAY your books will be ready for tax preparation.

When a qualifying principal residence is sold, up to $250K capital gain per taxpayer that is due to appreciation can be excluded from taxation.  

Seems like the backlash to the Colorado STR taxation bill is already having some effect.

You will want to find someone who is the following1) Expert in real estate taxation2) Expert in the state taxation of where you are a resident ofHaving a CPA understand the state taxation of the state where you have the property is important but not the most important.To mention some things about having a rental in Georgia is that they do not recognize bonus depreciation.Best of luck to you in your search.

You are required to report worldwide income.You would have been required to report the income even if you did not get a 1099-K from airbnb.Depreciation is reported diferently for properties that you own abroad.If you have more than $10,000 in US equivalent, you would be required to report the bank account info to the US.There is likely a US - Kenya tax treaty that you may need to familiarize yourself withYou may get a foreign tax credit for taxes paid to Kenya(to avoid double taxation)

High property taxes come with having no state income tax. At

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

Exact rules and fees differ wildly from state to state.Attorneys often suggest that the legal protection of "foreign" LLCs is weaker than that of "native" LLCs - which also depends on the state and should be discussed with an attorney familiar with the state law.As to taxes, some states do have state taxation for businesses, and others don't.