The local branch probably wont have a clue about foreign mortgage loans.

Account ClosedMost tax attorney's I know specialize in the followingRepresent US taxpayers in regards to foreign assets that have no been disclosed to the IRS on past tax returnsSubstantiate Transfer pricing costs between countrtiesYou likely don't want a Tax attorney for real estate activities.A real estate attorney should be able to do the following for youreview a purchase/sale of real estate agreementcreate an agreement for an entityconsult you on asset protectionevict a tenantA CPA should be able to do the following for youprovide tax strategiescomplete your tax compliance which provides you comfort that your return is prepared accurately.bookkeepingbusiness consulting/budgeting

There is a foreign tax credit that one can take for the federal income tax.

They have mtg programs for foreign buyers.

We have learned much over the last 5 months and now that we found this community we will be learning even more.We ended up using my HELOC for this first project, but we are actively looking for private or hard money lenders willing to helps us (foreign investors buying through an LLC).We have an LLC and a C-corp which we want to eventuallty tie into a Canadian corportation.

It may work out for me to continue to "upgrade" my studio-temple-castle.Then I want to move into "Wholesaling" opportunities, local & foreign, and then Buy-Hold-Rent when I have at least enough capital to have 50% equity or to be able to generate sufficient cash flow from an equivalent of 50% vacancy and large repairs.From here I want to quick jump to small commercial units (Apartments), and tropical (or at least sunny & warm 365 days/yr biking weather) Retirement Haven REI.Once I have sufficient income to be financially independent, with cash to spare to help family, then I'll devote all of my time to my Music and my Sadhana (Spiritual Practices).There's my business plan in a nutshell.

I would advise that each be metered separately to avoid disputes; in my state there is even a court ruling that says that any "foreign load" on a utility makes that utility the landlord's responsibility - check if yours does something similar.One way to have lienable utilities in the tenant's name and still keep a handle on payments is to insert a clause into the lease that requires that the tenant supplies you a copy of the latest utility bill for such utilities, every month with the rent payment (or by mail if you have rents paid with some direct deposit means).

So things we know the government has and is doing like the new mortgage rules,tax on foreign investors in B.C, and tax rebates for first home buyers. 

But you have unlimited liability if you do it that way.Most states will allow you to do business as a foreign (i.e., foreign to that state) business, but many if not most require you to register your out-of-state entity in the state in order to get limited liability protection in that state.

I would love to network with other foreign investors or those who managed to find a deal in the States from abroad to hear about their experiences.While I don't yet have much to offer as a newbie, I did want to share a simple glossary of abbreviations and terminology that I came across in BP's Ultimate Beginner's Guide, which includes what is probably very obvious to most (i.e.