The cost of creating an LLC being "cheap" is not something you should consider, you should create your LLC in whatever state you're planning to buy your properties, otherwise, you gonna have to file some foreign affidavit in every state you own property in. 

So in MO its pretty straight forward and maybe 1500 bucks to foreclose and that's what I had him do.. so it wiped out any potential juniors and he had clean title and subsequently sold the property like Many foreign investors who get suckered into the highest return deals.. he lost about 50% of his investment COC this was one of 4 I helped him out of ... all with the same results.

I would like to starting an initiative to pool together loaned funds from foreign investors for the purposes of buying rental properties here in the U.S.

There is a huge problem with both bots and live human trolls across social media, these days from foreign entities.

It's been an incredible one-two punch for us and the sky is the limit in my opinion...like Gary V, my favourite marketer/social media guru would say.

Two new characteristics of the market that for me seem to be wild cards are  1)  REITS that buy and hold SFRS, and 2) Foreign (mostly Chinese) money buying properties.  

So, if you create an LLC in another state, you will likely need to register it as a foreign LLC in California.

I've seen a lot of problems with people (mostly foreign born people but don't take it as a racist remark) renting out a place and inviting a dozen or more family members....most of which aren't legal US residents to begin with.

A foreign national can get a loan with an ITIN which is required for mortgage interest statement. 

Yet, Americans and other foreigners own a massive amount of property in Mexico and most of it is actually in the Forbidden Zone (like myself in Playa del Carmen for example).