That is way over simplified. 

This part seems straightforward enough, but we aren't really sure how to manage any income, losses, or expenses that would occur as a result of us owning the property come tax season.My first thought was to organize a two-person LLC with an equal split just to simplify the finances - with any proffit or expeness split 50/50 and taxes passed on to the individual members.

I definitely think the traditional brokerage will die out at some point however the real estate transaction must be simplified by many many times.

If need be I can help raise equity on the purchase as well, if that simplifies everything. 

This is super confusing, and I was thinking of just getting my first property in the US to simplify things.

We have uniformed and corrected rents to market rate as well as simplified.

How to simplify entities to ensure clean accounting books and maximize property attractiveness for future lenders and buyersI realize these are somewhat different specialties but would prefer to consult with someone with a comprehensive understanding if possible.

This is way over simplified, but just to aide in asking my question.So if I bought a home and rented it out for $1000/mo, the expenses, include the minimum on the mortgage, came out to be $750. 

@Brittany HodgesHere's a very simplified example of how investing in NYC can be very lucrative. 

I needed something to simplify the strategy and help her come up to speed.I decided to make a presentation of an investment scenario to my wife.