@Josh Ball mentions, there are issues with foreign investors but, nowadays, it's not necessarily on the tax front anymore.

Are you quoting net cash flow - after taxes, insurance, maintenance/repairs, property management if needed? 

Our avg monthly expenses with reserves is around $1500 (mortgage, taxes, insurance, utilities, reserves ect).  

Conventional lending requires tax returns, good FICO and reasonable DTI. 

Hey @Nick Gallon Martin, I recommend speaking to a Tax Planner/CPA, @Jeff Nash would be a great resource for you.

There are tax benefits to running everything through an LLC, but again, seek advice from a tax professional.

It has cost many people including myself a lot of unnecessary money and still is because you deal with the tax portion of opening unnecessary LLCs recommended by supposed professionals. 

Also, you will have additional occupancy tax depending whether you are in the city limits or not.

If you need an LLC for tax reasons later, you can move title into an LLC later for a couple hundred bucks.

Hey, I’m not an investor, but some unexpected costs to consider are closing costs, agent commissions, and most importantly, taxes.