All it will accomplish is create a $800/yr tax bill from your lovely state.As to your question, read this thread:https://www.biggerpockets.com/forums/51/topics/1225072-do-i-... 

I have been working on creating more passive RE opportunities and have come across a unique equity financing structure.

After doing research on the market (see above noted indicators) and creating an investor deck (mainly to prove to  myself as the main capital provider.

Sort of a unique way to make money, meet new people and not get stuck with a tenant you don’t like for too long!

Hopefully you haven't made equally poor decisions when you created and how you managed your LLC.  

.- Tax Advantages: Germany offers tax deductions for property owners, which can help offset some costs.Key TakeawaysService members have a unique opportunity to buy property in Germany with minimal upfront costs.

We cut that cost in half by training and certifying people on our team and it created a better experience overall. 

I would highly recommend you create an LP agreement.

If a cost segregation study was performed, the accelerated depreciation may further reduce the property’s basis, potentially increasing taxable capital gains when sold.Depreciation recapture will occur when you sell the personal residence, so it’s essential to keep detailed records of all depreciation claimed while the property was used as a rental to ensure accurate tax reporting at that time.This post does not create a CPA-Client relationship.

Our ability to deploy capital quickly allowed us to close the deal with no delays, creating a streamlined process for both the seller and our partner, Jamari Sprueil.