I'm more foreign to the financing world so I'm still getting use to a lot of these numbers and terms as this is my first one.

Specifically:- Are there any exceptions or tax treaties that could eliminate or reduce my US tax burden on foreign rental income that is otherwise taxed locally?

This guy answered the phone as me, except I’m told he had a foreign accent.

I believe a lot of it is from foreign investors looking for appreciation.

Furthermore, multifamily is a relatively new asset class for larger institutions and especially foreign investors/institutions.

We are in Dallas-Fort Worth and Indianapolis and work with a lot of foreign investors.

Generally speaking, owning a property in another state is usually considered to be "operating" in that state and requires registering your LLC with that state as a "foreign" business entity.

or register the AL to the PA LLC, for which I will need to pay foreign LLC fees.I understand the benefit of having separate LLCs for each property, but I am wondering which option will be cheaper in terms of fees in the long run? 

The statutory definition of securities is as follows:The term “security” means any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a “security”, or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.

In particular would be great to connect with others in the Miami/FL community as well as people with experience in foreign investing (I have interest in South America for long term value creation).