Quote from @Polat Caglayan: How much do I need to invest for a house and a thousand dollar income?

I am working toward passive income to live off of.

LLC or Corporation is required in most cases 3.

Jimmy,You need to show (2) years of 1099 SE income in order to use FHA, or traditional financing to get approved for a mortgage.

I really like LLCs compared to corporations because of the free stepped up basis for passing property to my children. 

While I do maintain a relatively modest percentage of my assets in money market instruments, corporate debt funds, and high dividend stocks, I remain most comfortable with the investments I specialize in and know best.  

This month I will be setting up the Mexican corporation to be able to place offers and purchase real estate. 

I've done corporate relo a handful of times.

Wish you the best.If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.

I'm confused why would you say that rental income is taxed in an IRA?