Hey there all of you,I'm a foreign investor from Israel.

Cold only wash is a foreign idea to me, your tenants may think you are cutting corners unless that is something common around you. 

into a program that now targets a "new type of buyer" because there are so many "foreign investors" and "professional landlords" (to hedge funds) buying- up these lease option, to owner financed notes, vs. mainly "first time home buyers," to "retirees."

@Daniel RongoI’d be cautious with Barcelona, the political situation is very shaky and some more turmoil could seriously spook foreign investors and crash the market

Florida is an excellent place to invest now, and the government is foreign investor friendly and tax-friendly! 

You cannot do a 1031 exchange for a US property into a foreign property.

Do I have to register in California as a foreign LLC if that's where I reside I will not conduct any business in California yet I will be getting paid so I don't really know the legality of it.

For ex: If you bought a home at a very low interest rate and rates increased, then bank can call the note so you have to either pay or refinance at a higher rate.Can be expensive to maintain if you only have 1 or 2 propertiesTax benefits:I think tax wise both approaches can be handled as pass-through taxation but there are advantages to an LLC if you have a big portfolio or actively flipping houses etc.

I haven't personally done it and am in no way affiliated with them, but if I were a foreign investor looking for the easiest way to access the U.S. market, that is one place I would start.

And we rent our place out to filming productions, and have used Airbnb (before our city banned it), rented to travel nurses, and foreign exchange students!